If management concludes adequate disclosures in the financial statements concerning the entity's ability to continue as a going concern, the auditor would issue a qualified opinion on the financial statements with an additional paragraph explaining the going concern uncertainty.

Question

Quizplus · Accepted Answer

If management adequately discloses the entity's ability to continue as a going concern in the financial statements, the auditor may still issue an unmodified opinion but include an emphasis-of-matter paragraph highlighting the going concern uncertainty, not necessarily a qualified opinion.

If Management Concludes Adequate Disclosures in the Financial Statements Concerning