Basis of opinion paragraph

Yes! How else are you going to explain the reason for the qualification? You cannot simply issue an adverse opinion without explaining why!

“EOMP” – that’s a new one on me – and there’s a lesson for you! DNA in the exam!

Now, read you question to yourself and ask yourself “Does this make sense?”

I’ll give you a hint here – it certainly makes no sense to me!

It’s like saying “If I cut my right hand off, can I still shake hands with my right hand?”

Why yes, of course they can

But basis of opinion is not modified by an emphasis of matter paragraph! Be careful! The audit report is modified by an emphasis of matter paragraph but the basis of opinion isn’t and nor is the opinion paragraph itself

I once saw an audit report that had a material uncertainty (insufficiency of appropriate audit evidence) in the statement of profit or loss, a material misstatement in the statement of financial position and a clean opinion “in all other respects”

We report our opinion on the state of affairs as at the accounting year end and on the published results and cash flows for the year then ended as well as on compliance with law and regulation. On top of that, there are also emphases of matter to be brought to readers’ attention

You could have disagreements, insufficiencies of appropriate audit evidence, emphases of matter, even other matters all within the one audit report

Not sure that it makes any difference to be honest. It certainly isn’t going to gain nor lose you a mark

You’re welcome, and good luck next week