To whom is the audit report addressed and explain

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Problem 1: What is the title of the additional paragraph that must be included in the audit report in each of the following circumstances?

(i) The financial statements are Special Purpose Financial Statements

(ii) The client has adopted early a new accounting standard as permitted by the AASB.

(iii) This is the first time that the financial statements have been audited.

(iv) The auditor believes that there is significant uncertainty about the outcome of a regulatory action.

Problem 2: Answer the following questions:

(i) To whom is the audit report addressed?

(ii) True or False? Any matter that is the subject of an Emphasis of Matter paragraph must be communicated by the auditor to Those Charged With Governance as a Key Audit Matter.

(iii) Under what circumstances would an auditor include reference to Going Concern in the body of the audit report?

Reference no: EM132698217

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