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FS prepared on Break up basis with reason adequately mentioned in notes.
Since FS are prepared on break up basis and there is no modification of opinion, where should this be disclosed in Audit Report?
KAM or Emphasis of Matter para?
For a listed company it could be a KAM if it meets the definition of a KAM. If it doesn’t meet the definition of a KAM – or for an unlisted company – an EoM would be very appropriate … “attention reader – these FS depict a dead company!” (Obviously not what would be reported but the sense of what should be conveyed.)
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