CTHRepealedLegislation
ASA 701 - Modifications to the Auditor’s Report - April 2006
CIRCUMSTANCES IN WHICH A MODIFICATION WOCIRCUMSTANCES IN WHICH A MODIFICATION WOULD BE ISSUED AND THE TYPE OF MODIFICATION APPROPRIATE IN THOSE CIRCUMSTANCES.
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CIRCUMSTANCES IN WHICH A MODIFICATION WOULD BE ISSUED AND THE TYPE OF MODIFICATION APPROPRIATE IN THOSE CIRCUMSTANCES.
| Circumstances | Type of Modification |
|---|
| Material but not Extreme | Extreme Cases[2] | |
|---|---|---|
| Scope Limitation(paragraphs 29-31) | Qualified(paragraph 22) | Disclaimer(paragraph 23) |
| Disagreement with those charged with governance[3](paragraphs 32-34) | Qualified(paragraph 22) | Adverse(paragraph 24) |
| Conflict between applicable financial reporting frameworks(paragraphs 35-36) | Qualified(paragraph 22) | Adverse(paragraph 24) |
| Significant Uncertainty – Going Concern(paragraphs 9-10) | Emphasis of Matter(paragraph 8) |
|---|---|
| Significant Uncertainty – Other(paragraph 11) | Emphasis of Matter(paragraph 8) |
| Additional Disclosures with which the auditor concurs(paragraphs 15-16) | Emphasis of Matter(paragraph 8) |
| Inconsistent Other Information(paragraphs 17-18) | Emphasis of Matter(paragraph 8) |
| Subsequent Event resulting in a new auditor’s report on a revised financial report(paragraph 19) | Emphasis of Matter(paragraph 8) |