You are the auditor of LUO Ltd, a manufacturing company. For the year ended 30 June 2019, LUO disclosed in its financial statements legal revenue of $16 million. You audited the account and noted that the money related to a court case that LUO recently won despite the fact that the other party has filed an appeal against the court decision. The appeal is scheduled to be heard in October 2019. Required: Select which form of opinion you would consider the most appropriate to use. Give reasons.

You are the auditor of LUO Ltd, a manufacturing company. For the year ended 30 June 2019, LUO disclosed in its financial statements legal revenue of $16 million. You audited the account and noted that the money related to a court case that LUO recently won despite the fact that the other party has filed an appeal against the court decision. The appeal is scheduled to be heard in October 2019. Required: Select which form of opinion you would consider the most appropriate to use. Give reasons.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter26: Tax Practice And Ethics

Section: Chapter Questions

Problem 2DQ

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