Acca aa s21 Notes

3.3 The Basis for Opinion
This will refer to compliance with the ISAs (complying with ISAs is key to the basis of opinion) and will 
refer to the auditor’s responsibilities section of the report. It must include an assertion of the auditor’s 
independence and that other ethical matters have been complied with.
If the audit opinion has been modified, the explanation would be here too.
As appropriate this paragraph would be called:
๏
Basis for opinion
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Basis for qualified opinion
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Basis for adverse opinion
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Basis for disclaimer of opinion
September 2021 to June 2022 exams
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3.4 Emphasis of matter paragraph (if one)
This paragraph is used to draw users’ attention to a matter already 
properly disclosed in the 
financial statements
. For example, a note stating that there had been a fire at the company’s 
premises after the date of the statement of financial position.
An emphasis of matter paragraph is 
not
a modification of the audit opinion and It will state that the 
audit opinion is not modified in this respect. If the auditor's report also includes a key audit matters 
section (see below), the emphasis of matter paragraph may follow that section, depending on their 
relative importance.
3.5 Material uncertainty related to going concern (if one)
A separate paragraph is now required if there is a material uncertainty related to the going concern of 
the company. This is covered more fully in the following chapter.
Such a paragraph is 
not
a modification of the audit opinion – provided the uncertainty has been 
adequately disclosed by the directors in the notes to the financial statements.