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For each of the following situations below, identify the appropriate opinion type (audit report) Level of Materiality Immaterial Material So Material Situation 1- The Company
For each of the following situations below, identify the appropriate opinion type (audit report) Level of Materiality Immaterial Material So Material Situation 1- The Company has suffered recurring losses from operations and has a net capital deficiency that raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 6. The financial statements do not include any adjustments that might result from the outcome of this uncertainty 2 change from straight-line depreciation to an accelerated method for depreciating equipment 3 adjustments to correct a material misstatement in previously issued financial statements 4 Important events occurring after the balance sheet date. like Corona pandemic 5 the auditor have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion. 6 Income statement not prepared in accordance with IFRS 7 when the auditor is not appointed until after the client's year-end. It may not be possible to physically observe inventories, confirm receivables, or perform other important procedures after the balance sheet date
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