[kevinnite]

@mcgruber said:
I had the same questions, for the provision I said it was material so we would modify the report and insert a basis for qualified opinion paragraph explaining the reason for the modified report and the effects on the financial statements. The opinion paragraph would be qualified except for.

For substantive procedures I wont say my answer as I would rather not think about substantive procedures for the rest of my life.

What did you write for the conflict of interest question? I couldn’t find any conflict of interest in the case provided at all

The conflict of interest you refer to was it not being auditor of clients in dispute?

[kevinnite]

I got that question and just to be brief I stated it was a material balance if not adjusted with relevant calculations and the audit report should be qualified except for based on a material misstatement because my lecturer said to always identify the grounds for qualifying a report

@ltgorman said:
I think it was okay.. But I find it is so hard to tell with Audit!

Did anyone have questions regarding substantive procedures for income (charity), loans for non current liability, and have to state if the management did not include 270k provision how would it be treated in the audit report?

If so, what did you put in your answers?!

I got that question and just to be brief I stated it was a material balance if not adjusted with relevant calculations and the audit report should be qualified except for based on a material misstatement because my lecturer said to always identify the grounds for qualifying a report

[kevinnite]

I got that question and just to be brief I stated it was a material balance if not adjusted with relevant calculations and the audit report should be qualified except for based on a material misstatement because my lecturer said to always identify the grounds for qualifying a report

[Author]

Posts