Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are the audit manager of Plums Unlimited (Plums), whose year-end is 30 September 2019. The field work is complete; however, your audit senior

You are the audit manager of Plums Unlimited (Plums), whose year-end is 30 September 2019. The field work is  

You are the audit manager of Plums Unlimited (Plums), whose year-end is 30 September 2019. The field work is complete; however, your audit senior has raised an outstanding issue. The directors of Plums have made appropriate disclosure relating to worries over going concern in the financial statements. Your audit senior has a significant level of concern regarding the going concern basis but feels the disclosure is appropriate and agrees with the use of the going concern basis. You concur with the audit senior's conclusions. Required Based on the above, state the audit opinion the auditor is likely to issue and describe any impact on the audit report. (2 marks)

Step by Step Solution

3.44 Rating (154 Votes )

There are 3 Steps involved in it

Step: 1

Given the information provided it appears that there is a significant going concern issue at Plums U... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Art And Science Of Assurance Engagements

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan, Joanne C. Jones

15th Canadian Edition

0136692087, 9780136692089

More Books

Students also viewed these Accounting questions