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September 18, 2017 at 4:05 pm
Is there any free website like this for CMA course which provides lectures?
September 19, 2017 at 9:16 am
CMA? If you mean CIMA, we provide free lectures and materials on this site.
September 23, 2017 at 6:21 am
No Certified Management Accounting
September 23, 2017 at 8:25 am
I don’t know of one.
January 3, 2017 at 9:09 pm
I still need some clarification please regarding Going Concern.
I don’t understand why there is a separate paragraph for ‘Material Uncertainty relating to Going Concern’ but then it also has to be disclosed in the ‘Emphasis of Matter Paragraph’
Also, how can Material Uncertainty relating to Going Concern not affect the auditor’s opinion if not adequately disclosed which is what is shown on the diagram on the first page of the lecture notes, and described in the lecture itself.
Many thanks for your help in advance.
January 4, 2017 at 8:40 am
We need to update this lecture.
If there is a meterial uncertainty as to going concern paragraph, then this is not repeated in an EoM para.
If a material uncertainty as to going concern is properly disclosed in the FS then the audit opinion is not affected, though the audit report is affected by adding the material uncertainty a out going concern paragraph.
September 15, 2016 at 11:54 am
When we have EOM and going concern, do we add 2 paragraphs after the opinion? Or 1 paragraph which explains both matters should work in this case?
September 15, 2016 at 4:26 pm
Now there is a special paragraph added after the opinion paragraph if there is material uncertainty about going concern. It operates like and EoM, but has a different title.
If there is a need for and EoM as well (for example like above when there is a law case) there would be two paragraphs: EoM and material uncertainty about goving concern
March 10, 2016 at 6:36 am
I have Following Question Will you please guideline Me
1-Emphasis of Matter Paragraph will be included before Opinion paragraph for better understanding of user Entity if Report is Qualified is it ”OK”
2-Emphasis of Matter Paragraph will reached Always Before Opinion Paragraph ???
3- Other Matter Paragraph will always reached after Opinion paragraph ? ? ?
March 31, 2016 at 12:05 pm
EOM is always after the opinion paragraph.
August 20, 2015 at 6:51 am
what is the difference between qualified report and modified report ?
August 20, 2015 at 8:25 am
Listen the lecture again.
August 20, 2016 at 12:42 pm
Very good answer ?
August 8, 2015 at 5:43 am
Hello Sirs, Thank you so much for your lecture.
Kindly help to confirm whether my understanding is right or not!
Unqualified report is when the financial statement give a true and fair view of FS in all material respect without any emphasis of matter paragraphs
when the audit report has a emphasis of matter paragraphs –>it should be a unqualified opinion, not unqualified report, is it?
May 19, 2015 at 2:07 pm
Hello sir, Thanks for this great lecture
I have 2 questions to ask. 1). On what basis do we actually conclude that the matter being material is PERVASIVE ? therefore to issue a modified report with adverse /disclaimer opinion?
2). When the directors are unable to assess the going concern of the business (for perfectly innocent reasons) what course of action would the auditor take? can he help them out do it ? or simply give an adverse opinion? .
I would like you to plz shed some light on these questions. My apologies if i am not supposed to use this forum to ask questions
May 15, 2015 at 7:12 pm
Yes. It’s really that when the misstatements get very large indeed (pervasive) that they have suxh a devastating effect on the FS that an adverse opinin might be better.
May 15, 2015 at 12:40 pm
I have one issue that needs an explanation. When we have a Qualified Opinion Except for the material misstatement is an isolated effect we can pin point the exact area.
But when we have Adverse Opinion we can also pin point the the misstatement such as the bad debt provision that was not provided for, the 2 mil that would not be recoverable.
My question is if we can pin point the error, the size or amount of the error that makes us use Except for or Adverse Opinion. Please clarify. Thanks Much.
May 15, 2015 at 10:38 pm
Thanks for the clarification.
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