An audit client has only got one customer and 3 suppliers. Under what should this be disclosed in the audit report - "Emphasis of matter" or "Other matters"? Example of wordings would also be highly appreciated.
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Why are you qualifying the audit report?
It may be unusual that a company has only one customer, but that in itself does not justify a comment in the audit report. What is your concern about the truth and fairness of the accounts? Going concern, perhaps?
Accounting Poicy
Ensure that the accounting policy explains fully why going concern has been used to prepare the accounts.
Then decide if the audit report needs to draw attention to the policy.
Do you have a genuine concern (as opposed to a nagging uncertainty)? If so how are you able to form an opinion?