audit report2

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November 11, 2014 at 5:46 pm #209166
ASHOK
Member
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I have 2 question on audit report and My question is

1 If there is a problem in going concern and company is going to liquidate and prepared on break up basis
and financial statement doesn’t contain disclosure regarding going concern problem
what should the audit report be ?
in opinion It should be the financial statement is properly prepared and it gives true and fair view

2 If there is a problem in going concern and company is going to liquidate and prepared on break up basis
and financial statement contain disclosure regarding going concern problem
what should the audit report be ?
in opinion It should be the financial statement is properly prepared and it gives true and fair view
whether I am right or wrong please tell me,

if it should be other than this then please tell me
November 12, 2014 at 10:54 am #209286
MikeLittle
Keymaster
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1 qualify on the basis of failure to provide adequate disclosure

2 unqualified opinion (so long as true and fair) but probably a modified report with an emphasis of matter bringing the readers’ attention to the full and transparent disclosure note

Ok?
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