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What audit report would be issued if going concern problem appropriately accounted and disclosed in financial statement?

A. Unmodified

B. Adverse

C. Except for qualication

D. Emphasis of matter paragraph.

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Question added by Wasim khan wazir , Finance Specialist , Mott Macdonald
Date Posted: 2016/02/29
Frank Mwansa
by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER

If there is adequate disclosure, then the auditor should express an unmodified opinion .however, he should use an emphasis of matter paragraph to highlight the uncertainty and to draw attention to the relevant note in the financial statements.  An emphasis of matter paragraph is not an audit report but a paragraph within the audit report which report can be modified or unmodified.

Siddhant Tandon
by Siddhant Tandon , accountant , chand autos

Option d emphasis of matter paragraph

Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option D is the right answer.

Fathi Matbaq
by Fathi Matbaq , Senior Purchasing Officer , Alghanim Industries

The answer is: a. Unmodified

حسين محمد ياسين
by حسين محمد ياسين , Finance Manager , مؤسسة عبد الماجد محمد العمر للمقاولات العامة

C ...................,,,,,,,,,,,,,,,,......................................

Abu Bakar Ashfaq
by Abu Bakar Ashfaq , Senior Consultant , PricewaterhouseCoopers Middle East

Option D - Emphasis of Matter, Agreed with Mr. Frank Answer !

QASIM KHAN
by QASIM KHAN , Admin & Finance Assistant , English Ville Academy

option c. except for qualification

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