Unique Qualified Opinion Going Concern

The assessment of an entitys ability to continue as a going concern and communication about going concern issues are the responsibility of management and those charged with governance in view of the requirements of the applicable financial reporting framework as going concern is a fundamental aspect of financial reporting.

Qualified opinion going concern. A going concern opinion often means the organization is in financial peril and may meet its demise very soon. Modified opinion qualified due to a disagreement The auditor disagrees with some aspect of the accounts or disclosures but apart from this they are able to say the accounts are true and fairA lack of proper disclosure about a material uncertainty relating to going concern would lead to this type of report. This topic has 3 replies 2 voices and was last updated 2 years ago by.

Introduction Pursuant to Paragraph 91937 of the Main Market Listing Requirements of Bursa. Consider the following example. At least 12 months from the reporting date.

Other information In circumstances when the auditors opinion is qualified consideration may be given as to whether the other information is also impacted by the same matter as or a related matter to the matter. The impact of the misstatement on the financial statements is significant. Qualified Opinion on the Audited Financial Statements for the financial year ended 31 December 2018 1.

November 11 2018 at 1058 pm 484539. Audit Report - Modified Opinion Material Uncertainty Related to Going Concern Qualified Opinion Description. Conclusions relating to going concern No changes are needed assuming the qualification does not relate to going concern.

Qualified Opinion on the Audited Financial Statements for the financial year ended 31 December 2019 1. Illustrations of these matters are set out below. Forums Ask ACCA Tutor Forums Ask the Tutor ACCA AAA Exams Qualified opinion and going concern.

In both cases a paragraph explaining the basis for the qualified or adverse opinion will be included after the opinion paragraph and the opinion paragraph will be qualified except for or express an adverse opinion. Clearly disclose that there is a material uncertainty related to events or conditions that may cast significant doubt on. However a qualified opinion on a service auditors report is more akin to a material internal control weakness disclosure for SEC registrants who have to issue such disclosures for Sarbanes-Oxley Act purposes.