Discuss the circumstances when non-standard reports are issued

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Expert Solution

A non-standard audit report is one that contains:

a modified opinion; and/or
an "emphasis of matter" or an "other matter" paragraph.

The auditors express a modified opinion because of:

a misstatement about the treatment or disclosure of a matter in the financial and/or non-financial information; or
a limitation in scope because the appointed auditor has been unable to obtain sufficient appropriate evidence to support, and accordingly is unable to express, an opinion on the financial and/or non-financial information or a part of the financial and/or non-financial information.
There is fundamental uncertainties;
There are cases of breaches of law; or
There are concerns over probity or financial prudence.
Auditor having obtained sufficient appropriate audit evidence which concludes that misstatements, individually or in the aggregate, are both material and pervasive to the financial and/or non-financial information.

ekkarill92 answered 1 year ago

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