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Hi Sir Mike!
Is the review of Interim Financial Statement always a separate engagement? Or is it included in the audit report?
If it is the latter, Then where the audit opinion is supposedly unmodified but due to a material misstatement in the interim financial statement now becomes a qualified or adverse audit conclusion?
Thanks!
Kyler“Is the review of Interim Financial Statement always a separate engagement?”
Yes
“Or is it included in the audit report?”
No
Given the answer to your second question (“No”) the rest of your post becomes irrelevant
However …
“If it is the latter, Then where the audit opinion is supposedly unmodified but due to a material misstatement in the interim financial statement now becomes a qualified or adverse audit conclusion?”
If there had been a material misstatement in the interim figures, surely the client would have corrected them by the time the year end comes around
??
OK?
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