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AA

Subsequent events - ACCA Audit and Assurance (AA)

VIVA Subject Guide
YouTube video

13 Comments

  1. gravv
    No sound in this video(
  2. gravv
    sorry, its ok
  3. Marcus
    Thank you :)
  4. rakibasafeer
    Sir,
    Does it mean that all non-adjusting events after being disclosed in F/S, need to be mentioned in the audit opinion as emphasis of matter paragraph
  5. KimTutor
    No - an eom only draws attention to something that is absolutely fundamental to the users' understanding of the financial statements. Some non-adjusting events might justify an eom, but not necessarily.
  6. eneid
    Hi,

    Is it possible that a non adjusting event is so important that may compromise the going concern? If that is the case the company would need to issue a FS on a break up basis and therefore that non adjusting event become an adjusting event..

    In your example if that fire had destroyed all the inventory and most of the NCA the company may not be able to operate as a going concern and consequently that non adjusting event become an adjusting event despite occurring after year end. Is that correct?

    Thanks a lot for your help
  7. Marcus
    I think not because there was no evidence that inventory will be destroyed at the y/e. But as it's going to effect the company it's utterly important for the users to know the situation so we will disclose this in the emphasis of matter paragraph.
  8. Jeet
    Thank you!
  9. kelly
    i m having problems downloading the video
  10. opentuition_teamAdmin
    You can only watch lectures ONLINE!
    that's the only way to keep this site free
  11. zee
    clear explanations! Thanks alot!
  12. MikeLittleTutor
    You can't! You can watch it as often as you want, but the videos are not downloadable - it's the only way we can keep the site free
  13. shaistha
    How do I download this video?

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