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Audit risk

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

  • This topic has 5 replies, 3 voices, and was last updated 4 years ago by Kim Smith.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • November 23, 2020 at 2:51 pm #596153
    mikkyjerry
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    In attempting to answer question,is it compulsory to make reference to ISA or
    IFRS?

    November 23, 2020 at 5:21 pm #596185
    Kim Smith
    Keymaster
    • Topics: 135
    • Replies: 8312
    • ☆☆☆☆☆

    Short answer no – use search or try this for further explanations https://opentuition.com/topic/isa-14

    December 13, 2020 at 2:37 am #599757
    Anonymous
    Inactive
    • Topics: 40
    • Replies: 42
    • ☆☆

    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?

    December 13, 2020 at 7:55 am #599772
    Kim Smith
    Keymaster
    • Topics: 135
    • Replies: 8312
    • ☆☆☆☆☆

    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).

    December 13, 2020 at 2:28 pm #599820
    Anonymous
    Inactive
    • Topics: 40
    • Replies: 42
    • ☆☆

    Can you tell what type of audit risk would be there for not including disclosures

    December 13, 2020 at 3:58 pm #599831
    Kim Smith
    Keymaster
    • Topics: 135
    • Replies: 8312
    • ☆☆☆☆☆

    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.

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