- May 29, 2018 at 10:40 am #454592MishernMember
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Please follow the following hyperlink to view the technical article: https://www.accaglobal.com/africa/en/student/exam-support-resources/fundamentals-exams-study-resources/f8/technical-articles/going-concern.html
When elaborating on a material uncertainty relating to going concern, the article states:
” The auditor will consider the adequacy of the disclosures made in the financial statements by management. If the auditor considers the disclosures to be adequate, then the audit report will be modified by the inclusion of an Emphasis of Matter paragraph. The Emphasis of Matter paragraph will follow immediately after the opinion paragraph and will always cross-reference the reader’s attention to the relevant disclosure in the financial statements, and the opinion will be unmodified. ”
Should the text in bold not read: “…a Material Uncertainty Related to Going Concern paragraph will follow immediately after the Basis of Opinion paragraph…”?
The article also reads:
“…In both cases a paragraph explaining the basis for the qualified or adverse opinion will be included before the opinion paragraph and the opinion paragraph will be qualified ‘except for’ or express an adverse opinion.”
Should the Basis for Qualified/Adverse Opinion not be included after the Qualified/Adverse Opinion paragraph?May 29, 2018 at 11:53 am #454610Ken GarrettKeymaster
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This article is completely out of date. You are right, the article,is now,wrong. Read this one instead.
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