One Audit question – Financial reporting opion on continue as a going concern

  • Creator
    Topic
  • February 9, 2012 at 6:10 pm #166137
    Anonymous
    Inactive

    Hi Everyone,

    I just found this question tricks me while I am study. If the entity fully discloses its continue as going concern for a period of time, the audit report may include an “unqualified opinion” or “disclaimer”. If both options are given in a question, how do you decide which one to pick for the most appropriate answer? Please advice. Thanks.

Viewing 3 replies - 1 through 3 (of 3 total)
  • Author
    Replies
  • February 9, 2012 at 6:42 pm #323219
    jeff
    Keymaster

    Unqualified with an emphasis would be the one I would look for.

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

    February 9, 2012 at 6:44 pm #323220
    Anonymous
    Inactive

    Thanks Jeff for your prompt reply. : )

    February 9, 2012 at 6:47 pm #323221
    jokami
    Member

    I would go for an unqualified as well… that is IF and only IF the company fully disclose it… and also if the auditor agrees with them.

    B - 62, 70, 72, 79!!!
    A - 68, 81
    R - 70, 82
    F - 84

    "The limit to your abilities is where you place them" - Fortune Cookies

  • Author
    Replies
Viewing 3 replies - 1 through 3 (of 3 total)
  • The topic ‘One Audit question – Financial reporting opion on continue as a going concern’ is closed to new replies.