Asked by Heather Robertshaw on Jun 09, 2024
Verified
Big Co.has made a variety of unsecured,undisclosed,large personal loans to top management officials.Belinda audits Big and discovers this problem.Discuss what type of audit opinion Belinda is likely to issue.
Unsecured Loans
Loans granted without requiring collateral from the borrower.
Audit Opinion
An audit opinion is a statement provided by an auditor that expresses a conclusion about the reliability and fairness of a company's financial statements.
- Understand the significance and methodology of auditing within financial reporting.
Verified Answer
NH
Noubahar HasnainJun 10, 2024
Final Answer :
An adverse opinion would be issued when financial information has not been adequately disclosed.
Learning Objectives
- Understand the significance and methodology of auditing within financial reporting.