Question

pacheco is performing an audit of the financial statements of a dogfood company. while analyzing the financial statements, he identifies some minor concerns. however, he believes that on balance the company's statements are accurate and that its accounting methods are consistent with the generally accepted accounting principles. in this scenario, the independent auditor's report will most likely offer a(n) .

Answer 1

The independent auditor's report will most likely offer an unqualified opinion.

Step-by-step explanation:

The independent auditor's report in this scenario will most likely offer an unqualified opinion. An unqualified opinion means that the auditor concludes that the company's financial statements are presented fairly and in accordance with the Generally Accepted Accounting Principles (GAAP).

Answer 2

The independent auditor's report will most likely offer a clean opinion, indicating that the financial statements are accurate and consistent with GAAP. Minor concerns may be disclosed in the report but do not affect the overall opinion.

Step-by-step explanation:

In this scenario, the independent auditor's report will most likely offer a clean opinion.

A clean opinion is issued when the auditor concludes that the financial statements are presented fairly in all material respects and are in accordance with the generally accepted accounting principles (GAAP). This opinion indicates that the auditor has found no major concerns or misstatements that would affect the overall accuracy of the financial statements.

The minor concerns identified by Pacheco may be disclosed in the form of explanatory paragraphs in the auditor's report, but they do not significantly impact the overall opinion of the financial statements.