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    PracticeCPA®CPA AUD Practice Exam 4Question 67
    Medium1 markMultiple Choice
    Area IV: ReportingAUDReportingSAS 134

    CPA · Question 67 · Area IV: Reporting

    REVISED Q66: An auditor is auditing the financial statements of a nonissuer under current AICPA standards (SAS 134). The auditor issues a qualified opinion. Where does the 'Basis for Qualified Opinion' section appear in the report?

    Answer options:

    A.

    Immediately preceding the Opinion section.

    B.

    Immediately following the Opinion section.

    C.

    After the Responsibilities of Management section.

    D.

    In an Emphasis of Matter paragraph.

    How to approach this question

    Opinion First. Basis Second.

    Full Answer

    B.Immediately following the Opinion section.✓ Correct
    SAS 134 restructured the nonissuer report to match the international and PCAOB format: Opinion first, then Basis for Opinion.

    Common mistakes

    Using pre-2021 formats.
    Question 66All questionsQuestion 68

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