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Dear Tutor,
do I understand right that Material uncertainty related to GC will be included in the report when GC uncertainty exists and the management has made appropriate disclosures about GC?
How will be the report modified if management refuses to provide GC disclosures?Your understanding is correct.
If the disclosures are not made the FS do not show a true and fair view and the opinion will have to be modified – probably to an ‘except for’, qualified opinion because the appropriate note is missing.
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