Keywords Flashcards
1
Q
“Must” or “is required”
A
Indicates an unconditional requirement.
2
Q
“Should”
A
Indicates a presumptively mandatory requirement.
3
Q
“May”, “might”, or “could”
A
Indicates explanatory material.
4
Q
Professional Skepticism
A
Having a questioning mind, and critical assessment of audit evidence.
5
Q
Inadequate Disclosure
A
Except for the omission of information described in the basis for qualified opinion.
6
Q
Adverse Opinion
A
Do not present fairly FS, and concludes that misstatements are both material and pervasive.
7
Q
Disclaimer of Opinion
A
- Has SAP and concludes that misstatements are material but not pervasive.
- Scope Limitations
8
Q
Qualified Opinion
A
Has SAP and FS are presented fairly.
9
Q
Except For
A
Qualified Opinion
