Programme Objective

Auditor’s report on financial statements is consistently one the inspection failings reported by the ACRA’s PMP. Some of these deficiencies could be addressed by having a better understanding of the various SSA’s requirements on auditor’s report.

Programme Outline

1. Unmodified Opinion
   • What does an unmodified opinion mean?
   • Under what conditions shall an unmodified opinion be issued?
   • What are the requirements in an unmodified audit report for a company and for a group of companies?
2. Qualified Opinion
   • What does a qualified opinion mean?
   • Under what conditions shall a qualified opinion be issued?
   • What would considered be an adequate Basis for Qualified Opinion explanation when a qualified opinion is issued?
3. Disclaimer of Opinion
   • What does a disclaimer of opinion mean?
   • Under what conditions shall a disclaimer of opinion be issued?
   • What would considered be an adequate Basis for Disclaimer of Opinion explanation when a disclaimer of opinion is issued?
4. Adverse Opinion
   • What does an adverse opinion mean?
   • Under what conditions shall an adverse opinion be issued?
   • What would considered be an adequate Basis for Adverse Opinion explanation when an adverse opinion is issued?
5. Emphasis of Matter
   • What is the “Emphasis of Matter” [EOM] section?
   • Under what conditions shall the audit report include an EOM section?
6. Other Matter
   • What is the “Other Matter” [OM] section of the audit report?
   • Under what conditions shall the audit report include an OM section?
7. Material Uncertainty related to Going Concern
   • What is the “material uncertainty related to going concern” [MUGC] section?
   • Under what conditions shall the audit report include a MUGC section?
   • What is considered a “close call” in relation to MUGC?
   • What if the company is not a going concern?
   • Event after financial statements issue date

Training Methodology

Lecture style with exercises / case studies

Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

Assistant Audit Managers, Audit Managers and Partners

Programme Facilitator(s)