Matters/actions

Up to 2 marks for each matter/action identified and explained (max 3 marks for identification):

– Exuma Co is a significant component
– Matter is material to individual and group financial statements
– Accounting treatment/qualification for Exuma Co’s financial statements
– Review of audit work performed
– Consideration of further audit work
– Discuss with group management and those charged with governance
– Request that Exuma Co’s management adjust financial statements
– Adjustment could be made on consolidation
– Impact on group opinion if no adjustment made

Maximum marks 10