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Q3. Recently Company XYZ got a qualified audit opinion by its auditor. The firm's management is now worried about the consequences of the audit report.
Q3. Recently Company XYZ got a "qualified audit opinion" by its auditor. The firm's management is now worried about the consequences of the audit report. The management feels that the recent audit opinion could affect the firm's market image and brand value. According to you, should the firm bother about the audit opinion? Write in one or two lines, the specific type of issue that is faced during this type of audit opinion. Explain types of audit opinion and use proper flowcharts, to support your viewpoint. (25 marks) Q3. Recently Company XYZ got a "qualified audit opinion" by its auditor. The firm's management is now worried about the consequences of the audit report. The management feels that the recent audit opinion could affect the firm's market image and brand value. According to you, should the firm bother about the audit opinion? Write in one or two lines, the specific type of issue that is faced during this type of audit opinion. Explain types of audit opinion and use proper flowcharts, to support your viewpoint. (25 marks)
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