You are reviewing the audit files of Monty Ltd with a view to finalising the audit. From your review of the files you identify the following factors. Identify whether or not they can be
a) Ignored
b) Whether the financial statements might have to be amended
c) Whether or not the financial statements should include a reference by way of a note without any adjustment to the  figures

In the table below tick the response you feel is the most appropriate

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A Receivable amounting to £15,000 has gone into liquidation after the year end and no amounts will be recovered. Total Receivables amount to £1.2m and the pre tax profit for the year is £750,000 Since the year end the company closed four out of its eight branches Audit investigations have indicated that the latest position on one of the long term contracts in progress is that it is likely to make a loss of £200,000. The value of Long term work in progress is £5.0m and the pre tax profit for the year is £750,000 Since the year end the company acquired one of its smaller competitors for £1.25 m. They financed this acquisition by means of an issue of shares amounting to £1m. The bank financing arrangements were revised and renewed shortly after the year end. There were no changes to previous arrangements except an increase in the overdraft limit of £250,000 The Chief Executive left one month after the year end. The Chairman is currently carrying out her duties whilst a replacement is being sought After the year end the Head Office was flooded and the ground floor meeting rooms and staff kitchens were badly damaged. The accounting function and IT facilities were not affected. The costs of repair are covered by insurance. Ignore Amend financial statements Refer by way of note