The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express?

Related Mcqs:

Which one of the following is NOT considered to be part of planning?

A. Background i.e. industry B. Previous year’s audit i.e. any qualifications in the report C. Considering the work to be done by the client staff e.g. internal audit D. Considering whether the financial statements show a true and fair view...

Verification refers to_________?

A. Examining the physical existence and valuation of assets. B. Examining the journal and ledger C. Examination of vouchers related to assets. D. None of the above....

Auditing is what?

A. Reporting the financial information B. Examination of financial statements C. Preparation financial statements D. maintaining the ledger records...

Balance sheet does not include­:_____________?

A. Verification of assets and liabilities B. Vouching of income and expense accounts related to assets and liabilities C. Examination of adjusting and closing entries D. Routine checks...

Which of the following would you not use as a benchmark for comparison when undertaking analytical procedures?

A. Other audit clients B. Previous years C. Other companies in the same industry D. Budget...