You are the auditor of MLS Ltd, an educational institution. For the financial year ended 31 December 2018, MLS disclosed in its financial statements that its provisions for employee benefits had increased by $33 million following the adoption of a new accounting standard. The new accounting standard is due to become effective on 1 July 2020. Required: Select which form of opinion you would consider the most appropriate to use. Give reasons.

You are the auditor of MLS Ltd, an educational institution. For the financial year ended 31 December 2018, MLS disclosed in its financial statements that its provisions for employee benefits had increased by $33 million following the adoption of a new accounting standard. The new accounting standard is due to become effective on 1 July 2020. Required: Select which form of opinion you would consider the most appropriate to use. Give reasons.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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