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ACCA AA Revision Mock Exam – last question

This topic has 3 replies, 2 voices, and was last updated 3 years ago by Kim Smith.

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May 14, 2021 at 12:07 pm #620577
Sean tom
Participant
- Topics: 1
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was not sure why qualified opinion instead of unmodified opinion as the financial statements has been adjusted accordingly(error corrected with the written down receivables).
May 14, 2021 at 1:32 pm #620586
Kim Smith
Keymaster
- Topics: 130
- Replies: 8137
Because it says “it will significantly reduce future revenue” – so this information is material to the primary users of the financial statements.
May 14, 2021 at 5:02 pm #620598
Sean tom
Participant
- Topics: 1
- Replies: 2
oh yes. thanks
May 14, 2021 at 7:04 pm #620607
Kim Smith
Keymaster
- Topics: 130
- Replies: 8137
You’re welcome! When something looks “too easy” – it might be – but it’s always worth reading a scenario again in AA just to make sure you’re not missing something.
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