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Aman asked 1 year ago

What if the auditor comes to know that IT demand is raised on the company and its impact is likely to affect the going concern of the entity. However the comoany after considering expert’s opinion have filled appeal against order and have provided for expected penal provision. 
Should the auditor qualify the audit report? As entity have prepared the financial statement on going concern basis. 

1 Answers
RaviRavi Staff answered 1 year ago

it is a material uncertainty
put separate section in audit report  “material uncertainty over going concern” 

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