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Going Concern para in audit report

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Going Concern para in audit report

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.
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  • May 31, 2017 at 8:36 pm #389328
    abbas7796
    Member
    • Topics: 135
    • Replies: 256
    • ☆☆☆

    Hello Mike

    for international p7 versions.

    1) if the management refuses to disclose going concern uncertainty in financial statements and if its is materiel then we will give a qualified except for opinion. however what will happen to to the “materiel uncertainty in relation to going concern” para in this case?

    May 31, 2017 at 8:42 pm #389332
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23329
    • ☆☆☆☆☆

    “however what will happen to to the “materiel uncertainty in relation to going concern” para in this case?”

    That paragraph will not be relevant because the basis of opinion paragraph itself will fully explain the reason for the qualification of the audit opinion

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