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Audit Report

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Audit Report

Viewing 3 posts - 1 through 3 (of 3 total)
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  • July 24, 2017 at 12:26 pm #398394
    kylerlu
    Member
    • Topics: 84
    • Replies: 117
    • ☆☆☆

    Hi Mike!

    Also, if there is a major litigation “possible outflow of economic benefit” and is appropriately disclosed by the management and is of exceptional litigation or regulatory action that could affect the going concern of the entity, do we include this under EOM or Material Uncertainty Related to Going Concern?

    Thanks!
    Kyle

    July 24, 2017 at 12:50 pm #398396
    kylerlu
    Member
    • Topics: 84
    • Replies: 117
    • ☆☆☆

    Hi Sir Mike!

    Just a follow-up question, if there is a material inconsistency between chairman statement and FS, this shall be reported under Other Information but could this result in a qualified opinion?

    Thanks!
    Kyle

    July 24, 2017 at 2:29 pm #398417
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23333
    • ☆☆☆☆☆

    “do we include this under EOM or Material Uncertainty Related to Going Concern?”

    Material Uncertainty related to going concern

    “but could this result in a qualified opinion”

    No, because it doesn’t affect the truth and fairness of the view shown by the financial statements

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