itor to modify the opinion in accordance with ISA 705 (Revised) Modifications to the Opinion of the Independent Auditor’s Report. ii. The auditor has expressed an Adverse Opinion on the financial statements. iii. The auditor has expressed a Disclaimer Opinion on the financial statements. iv. A Material Uncertainty Related to Going Concern Exists. v. The relevant matter should be highlighted/emphasised. vi. The auditor of this listed entity is unable to determin
itor to modify the opinion in accordance with ISA 705 (Revised) Modifications to the Opinion of the Independent Auditor’s Report. ii. The auditor has expressed an Adverse Opinion on the financial statements. iii. The auditor has expressed a Disclaimer Opinion on the financial statements. iv. A Material Uncertainty Related to Going Concern Exists. v. The relevant matter should be highlighted/emphasised. vi. The auditor of this listed entity is unable to determin
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Consider each situation below independently and describe the interactions between them and descriptions of KAM in the Auditor’s Report
i. The relevant matter requires the Auditor to modify the opinion in accordance with ISA 705 (Revised)
Modifications to the Opinion of the Independent Auditor’s Report.
ii. The auditor has expressed an Adverse Opinion on the financial statements.
iii. The auditor has expressed a Disclaimer Opinion on the financial statements.
iv. A Material Uncertainty Related to Going Concern Exists.
v. The relevant matter should be highlighted/emphasised.
vi. The auditor of this listed entity is unable to determine at least one KAM
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