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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Audit risk
In attempting to answer question,is it compulsory to make reference to ISA or
IFRS?
Short answer no – use search or try this for further explanations https://opentuition.com/topic/isa-14
If adequate disclosure is not made for material uncertainty related to going concern , then is it risk over completeness of disclosure of material uncertainty related to going concern?
Spot on – and if complete the audit opinion is unmodified and the auditor’s report includes a MURGC section. But if incomplete the audit opinion will be modified – “except for” – as there will be material misstatements (no MURGC section in this case).
Can you tell what type of audit risk would be there for not including disclosures
PLEASE PLEASE refer to the assertions in Chapter 16 – I have mentioned this in numerous responses – and READ what it says about the assertion “Presentation”, for example.
