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+--- Thread: Audit opinion (/showthread.php?tid=1070)
Audit opinion - webmoxter - 08-31-2004
Please advice me how to deal with audit opinions in my audit paper
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- Pracs - 09-01-2004
Reading a lot of case studies and going through IFAC's statements on Audit,.. that does cover some scenarios. If you could get your hands on the auditing standards issued by AICPA (American institute of CPA), that does have a lot of examples and scenarios.
The underlying concept is to understand how and what will effect the understanding and decision making process of the reader, the going concern issue, legal ramifications and the scope of audit itself.
Ofcourse you must also have a clear understanding how one set of circumstances may have varying audit reports,. e.g the size of the company and financial side of an issue are some factors that may as well govern if an unqualified report with an emphasis of matter paragraph may suffice, or a qualified report with special reference (as part of the report to the issue) or a discalimer may be issued.
At your level, if you are not a trainee, I say you should try discussing different scenarios with you study group or seniors who have an understanding of the subject.
Hope this is of any help.
- webmoxter - 09-02-2004
Thank you very much for your help
I have the paper on 10th
Of module D11
So can you please give the name of the book or some thing else
to practice the opinions
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www.practiseislam.com
- Augustus - 09-02-2004
Well the best way to understand the audit opinion is just visit ur local stock exchange and ask them to give you a annual report containing some qualification. i will suggest you if u are in lahore then ask them to give you Idus fruit products limited's report as that report contain more than 4 qualifications and it will help you to understand and tackle the audit opinion.
Hope this will work
Best of luck for ur exams
- webmoxter - 09-05-2004
Thank you very much for ur advice
Webmaster
www.practiseislam.com
- webmoxter - 09-08-2004
yaar can ne one temme
how to quickly learn the opinions
please
Webmaster
www.practiseislam.com