ACCA AAA ^UK Syllabus F. Other Assignments - Modifying a Conclusion - Notes ^{3 / 3}

Modified conclusions are expressed in the same terms as the auditor's report

A Modified conclusion paragraph must be preceded by a 'Basis for' modified conclusion paragraph.

The type of modified conclusion given will depend on two things:

1. The Materiality of the issue

2. The Availability of evidence

Modification: A Material Misstatement

• Material 

  Qualified conclusion

• Material and Pervasive

  Adverse conclusion

Modification: Insufficient Evidence

• Material 

  Qualified conclusion

• Material and Pervasive

  Disclaimer of Conclusion

An Emphasis of Matter paragraph will be used to draw users' attention to a matter of such importance that it is fundamental to users' understanding of the financial statements.

An Other Matter paragraph will be used to communicate a matter (other than those that are presented or disclosed in the financial statements) that is relevant to users‘ understanding of the review, the practitioner's responsibilities or the practitioner's report and this is not prohibited by law or regulation.