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Hello Sir,
In the third set of flashcards there is a question relating to going concern doubts asking
“What sort of audit report should be issued if going concern doubts are not fully disclosed in the financial statements?”
with the answer being
“The audit report will be qualified because the financial statements contain a material misstatement by not disclosing the going concern problem.”
My question is as going concern doubts would be deemed a pervasive issue would an adverse opinion not be more appropriate?
Thanking you,
john
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