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In question 3, for Ash trading co issue, could you please explain why wouldn’t a disclaimer opinion be given. As the auditor is not able to gather sufficient appropriate audit evidence in relation to the completeness and existence of inventory and the balance is material.
You will find a summary matrix at the top of page 39 of the notes – “only” material means “only” except for.qualified.
The extreme forms of opinion – adverse and disclaimer – concern matters that are PERVASIVE – as it says in the sentence above the table this means affecting the financial statements “AS A WHOLE” – so not just inventory.
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