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Audit opinion

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Audit opinion

  • This topic has 3 replies, 2 voices, and was last updated 8 years ago by Ken Garrett.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • April 27, 2017 at 7:59 pm #384150
    mandyyyyan
    Member
    • Topics: 2
    • Replies: 3
    • ☆

    Hi Sir,

    I have a question regarding the audit opinion.

    Leicester Plc has a number of branches across the UK. One branch is in a remote location in the far north of Scotland. You have never visited this branch because it is relatively small and you could not justify incurring the travel cost.

    As the branch may seem to be immaterial, but it might be hiding material liabilities.
    Is there a limitation in the scope of audit?
    Does the reluctant of client to pay the expenses limited the auditors to visit the branch?

    April 28, 2017 at 10:33 am #384204
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10594
    • ☆☆☆☆☆

    The auditors cannot modify a report simply because they choose not to do work – even if the client is reluctant to pay.

    Quite a lot of audit work could be done without visiting the branch. Also, the auditor could ask a local firm to do some work on their behalf.

    April 28, 2017 at 10:53 am #384210
    mandyyyyan
    Member
    • Topics: 2
    • Replies: 3
    • ☆

    If there is audit evidences showing the non-disclosure of material item, auditor might express an except for opinion.

    If there isn’t any non-disclosure of material item, the auditor can issue an unqualified report.

    Am i correct?

    April 28, 2017 at 5:25 pm #384233
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10594
    • ☆☆☆☆☆

    Yes.

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