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Wrt OI – What type of opinion needs to be given if OI is materially misstated and Mgt refuses to correct those OI. And, if the opinion is modified, 1. what type of opinion is given and 2. do we still need to include an OI para?
Wrt MurGC – If there is a mats uncertainty that exists and Mgt does not/is not willing to disclose it, then the auditor is required to modify his report. Is that an except for or adverse opinion. And do we still need to include a MurGC para?
ThanksI think 1 is answered on page 105 (section 3.8) of the notes – remember OI does not form part of the financial statements.
2. “except for” lack of disclosure. You cannot possibly have MURCG para ASWELL – for 2 reasons:
1. In general – any matter is reported in only ONE place in the auditor’s report – you might find what I wrote in this post helpful https://opentuition.com/topic/kam-5/
2. Specifically it would be a CONTRADICTION – you can’t say “except for” lack of disclosure – and then have MURCG refer to the matter adequately disclosed.
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