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Basis for modified opinion or Material uncertainty related to going concern

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Basis for modified opinion or Material uncertainty related to going concern

  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by AvatarKim Smith.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • August 27, 2019 at 8:03 pm #539046
    Avatarrnsadykova
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Hi,
    I have incountered one question in AA Chapter 6 questions, where right answer was “Qualified opinion with “Material uncertainty related to going concern” section.
    But from lecture notes I have learnt that when we modify opinion due to going concern issues then we do not use “Material uncertainty related to going concern” section, we use Basis for modified opinion.
    In the case client use right basis of preparation but has inadequate disclosure of material uncertainty.
    Could you please resolve my contracdiction?
    What section will be correct to use?

    Thank you in advance.
    Kind regards,
    Rufina.

    August 28, 2019 at 7:29 am #543428
    AvatarKim Smith
    Keymaster
    • Topics: 138
    • Replies: 8470
    • ☆☆☆☆☆

    The notes are correct. Thank you for drawing my attention to the contradiction in the practice test – this has been corrected and will be republished shortly.

    August 28, 2019 at 4:14 pm #543569
    Avatarrnsadykova
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Thank you for answer!

    August 28, 2019 at 4:19 pm #543572
    AvatarKim Smith
    Keymaster
    • Topics: 138
    • Replies: 8470
    • ☆☆☆☆☆

    You’re welcome! And thank you for taking time to explain the matter so clearly that it could be quickly resolved.

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Basis for modified opinion or Material uncertainty related to going concern’ is closed to new replies.

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