what is Fundamental uncertaint

- There are circumstances which can give rise to a "Qualified Audit Report"
being issued.

These are as follows:
- Uncertainty arising from either a limitation upon the scope of the auditor's
work or an inability to obtain any evidence regarding doubts which exist in
relation to an unresolved matter.

- Disagreements arising from factual discrepancies, unsuitable accounting
policies, inadequate or misleading disclosures given in the financial
statements or failure to comply with an accounting standard or legislation.
Some of these types of disagreement should be resolved fairly easily with the
client so that a qualification can be voided.

- Secondly, it is necessary to decide upon the effect of the circumstances
discussed above.

- These are classified as:
- those having a material but not fundamental effect upon financial statements
- those having a fundamental effect upon the financial statements

- Fundamental means that the matter is such as to seriously distort or
undermine the view which is given by the financial statements to the extent
that they could mislead user groups.







2009-11-24 10:00:37 補充：
- typo error: - Disagreements .........that a qualification can be avoided.

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