Audit Report

This topic has 2 replies, 2 voices, and was last updated 8 years ago by MikeLittle.

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July 24, 2017 at 12:26 pm #398394
kylerlu
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Hi Mike!
Also, if there is a major litigation “possible outflow of economic benefit” and is appropriately disclosed by the management and is of exceptional litigation or regulatory action that could affect the going concern of the entity, do we include this under EOM or Material Uncertainty Related to Going Concern?
Thanks!
Kyle
July 24, 2017 at 12:50 pm #398396
kylerlu
Member
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Hi Sir Mike!
Just a follow-up question, if there is a material inconsistency between chairman statement and FS, this shall be reported under Other Information but could this result in a qualified opinion?
Thanks!
Kyle
July 24, 2017 at 2:29 pm #398417
MikeLittle
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“do we include this under EOM or Material Uncertainty Related to Going Concern?”
Material Uncertainty related to going concern
“but could this result in a qualified opinion”
No, because it doesn’t affect the truth and fairness of the view shown by the financial statements
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