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I would like to ensure that my understanding regarding going concern is correct. I appreciate if you could kindly confirm the following:
1. FS have appropriate going concern assumption & disclosures are adequate = unqualified report & unmodified opinion – EOM PARA?
2. Fs unappropriated GC assumptions – report qualified & adverse opinion
3. FS have multiple significant uncertainties – qualified report and disclaimer of opinion expressed
4. FS appropriate GC assumptions – inappropriate disclosures – qualified report and modified opinion or qualified report and adverse opinion
5. FS prepared on liquidation basis & adequate disclosure – unqualified report & unmodified opinion- report under EOMthanks
There is no such thing as EoM in connection with going concern – it was replaced by MURGC when the reporting standards were revised in 2016.
Please see the notes – Chapter 24 for going concern in particular.
You are writing here “qualified report” and “modified opinion” – please see page 108/120 of the notes – only the OPINION is modified and “qualified” is one of the types of modification.
There is no such thing as a “qualified (or modified) REPORT” – see page 119 for the additional paras which may be included in a report which do not affect the audit opinion.
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