[jeff]

Welcome to the Q2 2015 CPA Exam Study Group for AUD.

World Premier: “Unmodified” (Audit Reports Rap Video) 🙂

Posted by Another71 on Thursday, November 13, 2014

Free NINJA: https://www.another71.com/cpa-exam-study-plan/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[trish_1234]

for instance

“IF” (conditional language) the company is unable to obtain refinancing there is possibility of going concern… Cannot be used

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[trish_1234]

emphasis of matter should have the wording

substantial doubt

going concern

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[trish_1234]

issuing a qualified opinion on an accounting matter along with the going concern explanation paragraph.

The report can be qualified for some reason unrelated to the going concern

for instance qualified for accounting matter (expensing instead of capitalizing idk) and the company could still have a going concern that needs an emphasis of matter

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[trish_1234]

issuing a qualified opinion on an accounting matter along with the going concern explanation paragraph.

The report can be qualified for some reason unrelated to the going concern

for instance qualified for accounting matter (expensing instead of capitalizing idk) and the company could still have a going concern that needs an emphasis of matter

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[trish_1234]

was I clear?

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[ladybossxo]

That's true I get that part but why wouldn't it be B? For going concern, wouldn't auditor just issue a disclaimer of opinion or an unmodified opinion with an emphasis of matter paragraph??

For ISA, it would be significant doubt. And I think it says something like “do not say for one year”

CPA Exams Done.

[ladybossxo]

Oh damn you read my mind! Yes I get it now.

CPA Exams Done.

[ladybossxo]

It says qualified opinion on accounting matter. Lol I need to read the answers carefully.

CPA Exams Done.

[trish_1234]

Question B is allowable in a report

Thus, The auditor can qualify an opinion for an accounting matter not related to the going concern and also add an emphasis of matter to the report addressing the going concern

a going concern by itself does not require a modified opinion but the auditor is not precluded from disclaiming an opinion

the auditor is only concerned about the adequacy of the going concern disclosure in the FS…If management does not disclose going concern in the notes the Auditor would be a MM that can lead to a modified or adverse opinion

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[trish_1234]

ahhh lol

That sucks in auditing a single word changes everythig … Imagine english is not my first language …But it will be after studying this book lol

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[trish_1234]

lol

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[Martin]

trish_1234, where are you from?

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[trish_1234]

@ Martin, Brasil

Did you study today?

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[ladybossxo]

@Trish: I would have never thought English is not your first language! 😛

CPA Exams Done.

[trish_1234]

Happy Monday Lady!!!

just purchased ninja 🙂

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[Author]

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