Audit

Hi All,

A question to you auditors out there,

A company y/e 31/03/11, has expired banking facilities ongoing (not withdrawn), in the process of filing the accounts (late) - my understanding is on this basis the audit report should be qualified on a going concern basis - BUT given the fact that the company is still trading almost 12 months after the year end i.e today - is a qualified audit report required?

Any info / thoughts / feedback much appreciated!