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For this qns apart from the examiner ans can I add this:
If management adjusted the error, auditor can issue an unmodified opinion and add a EOM paragraph as stated in SSA 710?
Thanks.
I wouldn’t quote the ISA (SSA?) number – there are no marks for it and you’re wasting valuable time
I find it hard to believe that such an obvious point is not included in the solution … if it is in fact relevant
Are you sure that the financial statements have not been approved by the directors such that a subsequent amendment is now no longer available
You need to be VERY careful about the timeline involved here
If it is relevant ie if it is still available for management to make the necessary amendment the, yes, as a general point the auditor could issue an unqualified opinion with an emphasis of matter
Would it not be more likely that it would be shown as a KAM? And thus EOM would not apply?
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