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Which statement best explains Adverse opinion?

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Question ID #26796 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC 2026 Full-Length Mock Test 3 Medium

Which statement best explains Adverse opinion?

Correct Answer: B. Audit opinion used when material misstatements are both material and pervasive
Adverse opinion: Audit opinion used when material misstatements are both material and pervasive

Question: Which statement best explains Adverse opinion?

A. Auditor does not express an opinion because sufficient appropriate evidence cannot be obtained and effects may be pervasive

B. Audit opinion used when material misstatements are both material and pervasive

C. Risk that audit procedures will not detect a material misstatement

D. Independent examination commonly performed by an auditor outside the entity

Correct Answer: B. Audit opinion used when material misstatements are both material and pervasiveAdverse opinion: Audit opinion used when material misstatements are both material and pervasive

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Which statement best explains Adverse opinion? - MCQ Explanation

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Correct answer: B. Audit opinion used when material misstatements are both material and pervasive