Q:1

Quqa Co. has the following issues:

1- recurring loss at its comprehensive income statement for the last three years.

2- A pending litigation against the company. The amount claimed by the plaintiff is $300,000.

3- The allowance for uncollected debts seems to be inappropriate.

4- The auditor discovers clients tax evasion.

5- The auditor discovers a fraudulent act committed

by a senior employee of the client.

Requirements:

A- For each independent issue identify the auditor opinion with appropriate justification for the opinion. [you should show assumption/s you assumed that make the bases for the opinion]

B- prepare Two different auditors report from the above cases.

....................................................................................

Note :

1. you should show numbers in your reports.

2. You should describe Key Audit Matters.

3. You should include at least an emphasis of matter paragraph & mention the going concern issue in your report.

......................................................................................

(( please you can solve it step by step ) within a logical and short answer)