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What audit opinion would you issue and why

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Reference no: EM132641129

Question -

1. You have completed a financial report audit for the year ended 30 June 2020 and the following material event occurred:

A large credit sale was recorded on 28 June 2020, but examination of the shipping documents revealed that the goods were shipped from the warehouse on July 3rd. Management are unwillingly to alter the date as it would then conflict with the internal management sales reports.

What audit opinion would you issue, and why?

2. You have completed a financial report audit for the year ended 30 June 2020 and the following material event occurred:

Due to COVID-19 travel restrictions, you were unable to physically verify the property, plant and equipment held by an overseas subsidiary that was acquired during the year. Alternative procedures are not satisfactory.

What audit opinion would you issue, and why?

Reference no: EM132641129

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