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The outbreak of the Covid-19 pandemic in 2020 has different impacts on different companies. In performing the audit of the financial statements for most of
The outbreak of the Covid-19 pandemic in 2020 has different impacts on different companies. In performing the audit of the financial statements for most of the companies in the 2020, the auditor unavoidably has to consider the impacts of the Covid-19 pandemic on the going concern of the companies. year of Required: (a) Give an example to describe the impacts of the Covid-19 pandemic on a company and explain the specific circumstances under which an auditor should issue an unmodified audit report with an unmodified opinion. (Note: Only the first 100 words will be marked.) (3 marks) (b) Give an example each to describe the impacts of the Covid-19 pandemic on a company and explain the specific circumstances under which an auditor should issue an unmodified opinion with (i) an emphasis of matter; and (ii) material uncertainty related to going concern. (Note: Only the first 240 words will be marked.) (8 marks) (c) Give an example each to describe the impacts of the Covid-19 pandemic on a company and explain the specific circumstances under which an auditor should issue a modified audit report with (i) a qualified opinion; (ii) a disclaimer of opinion; and () an adverse opinion. (Note: Only the first 360 words will be marked.) (12 marks)
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