Emphasis of Matter Flashcards
1
Q
Optional Emphasis of Matter
A
Related party transactions, material uncertainties, subsequent events, lack of consistency in accounting principles
2
Q
Mandatory Emphasis of Matter
A
auditor’s opinion on revised FS differs from opinion previously express, substantial doubt for going concern, must use SD and GC, justified change in accounting principles affecting consistency, FS reported in a way other than GAAP, FS are reported for regulatory basis and are intended for general use
