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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › MURGC
Hello
I have a question here relate to GC.
so, if the client (listed company) has a clear going concern issue and it is material (i suppose all going concern issues are materials) what should we do on audit report :
1.when adequately disclosed ;
2. when inadequately disclosed by the management?
please correct me if i am wrong:
1. i would add MURGC under basis of opinion before KAM and explain the uncertainty,make clear that management has fully disclosed and audit opinion is unmodified due to this respect.
2. i would also add MURGC under basis for opinion before KAM and explain the uncertainty, and make clear that the management has not disclosed in full details, and audit opinion is modified due to this respect. no explanation need under basis for opinion about the GC again because it has explained under MURCG section.
Am i right on that please?
Thanks
Jenny
That sounds good to me Jenny, yes