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MMLU-Pro / 5117 / During an engagement to review the financial statements of a nonissuer, an…

Problem

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question

During an engagement to review the financial statements of a nonissuer, an accountant becomes aware of several leases that should be capitalized, but are not capitalized. The accountant considers these leases to be material to the financial statements. The accountant decides to modify the standard review report because management will not capitalize the leases. Under these circumstances, the accountant should

category

other

options

  1. Declare that the financial statements are not in accordance with GAAP.
  2. Issue an unmodified opinion with an emphasis of matter paragraph.
  3. Disclose the departure from GAAP in a separate paragraph of the accountant's report.
  4. Refuse to issue a report until the leases are capitalized.
  5. State that the financial statements are free from material misstatement.
  6. Issue a disclaimer of opinion due to the departure from GAAP.
  7. Issue an adverse opinion because of the departure from GAAP.
  8. Emphasize that the financial statements are for limited use only.
  9. Express limited assurance on the entity's financial statements.
  10. Express no assurance of any kind on the entity's financial statements.

src

ori_mmlu-professional_accounting

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Source and history

upstream_id / Original problem ID
5117
task_id
c563dadd-08e9-5fa2-880a-432cb0b73451
task_key
default--test--5117
task_revision_id
1
config / split
default / test

Official source

initial import