Effects of a matter on the financial statements are 'pervasive' if they are NOT confined to specific elements but represent a ___ proportion of the statements:
Atrivial
Bminor
Cnegligible
Dsubstantial
Answer & Solution
Correct answer: D. substantial
Pervasive effects are not confined to specific elements; they are substantial.
Related questions
The primary objective of the auditor under SA 700 is to form an opinion based on an evaluaDetermining Key Audit Matters involves selecting from matters communicated with:An unmodified opinion accompanied by an Emphasis of Matter paragraph still conveys that thThe auditor's report for a company is signed by the auditor mentioning the firm's registraIf the financial statements are materially misstated due to a single matter that is NOT peA qualified opinion is expressed using the phrase in the opinion paragraph:The date of the auditor's report informs the reader that the auditor has considered eventsBefore forming an opinion, the auditor must conclude whether sufficient appropriate audit