Question
You are auditing Bakshi Imports Ltd for the year ended 30th June 2019. The company is incorporated in Australia and imports a variety of products
You are auditing Bakshi Imports Ltd for the year ended 30th June 2019. The company is incorporated in Australia and imports a variety of products from India. Bakshi has one main supplier in India, Khanna Exports. Khanna recently expanded their operations and is becoming a less reliable supplier to Bakshi. In fact, the supply chain has deteriorated so markedly it has resulted in significant business interruptions to Bakshi. Bakshis going-concern mitigation strategy is dependent on their ability to continue to secure inventory with their Khanna. This has been disclosed in the financial report, and you concur with the disclosures made. Required: Using the Framework for Audit Opinions studied in this unit, explain the most appropriate auditors opinion for Bakshi Imports for the year ended 30th June 2019. Justify all aspects of your response.
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