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Kaplan Revision kit Q.No.116

This topic has 1 reply, 2 voices, and was last updated 7 years ago by Ken Garrett.

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June 1, 2017 at 5:47 am #389357
FARIHA
Member
- Topics: 7
- Replies: 5
Which of the following are elements of an unmodified audit report as given in ISA (revised) Forming an Opinion and Reporting on Financial Statements?
1)Addressee
2)Basis for opinion
3)Auditor’s address
4) Emphasis of matter paragraph
A.1,2 and 3 only
B.2,3 and 4 only
C.1 and 3 only
D.All of them
The answer given in revision kit is A by stating the reason An emphasis of matter paragraph, if included,would modify the audit report..
Can you please let me know does emphasis of matter really change audit opinion?
Thanks 🙂
June 1, 2017 at 7:52 am #389383
Ken Garrett
Keymaster
- Topics: 10
- Replies: 10589
No. EoM does not modify opinion. That point is clearly made in our nores and lectures. Please seek clarification there first before asking questions herr.
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