Parr Co is undergoing a major court case that would bankrupt the company if lost. The directors assess and disclose the case as a contingent liability in the accounts. The auditors agree with the treatment and disclosure.
For the above situations state what type of audit report should be issued and explain your choice.
Can we write both emphasis of matter and material uncertainty relating to going concern?
If you have a MUGC you do not have an EoM about the same matter. You could potentially have an EoM about something else.
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