Great Pervasive Audit Opinion Four Key Financial Statements

Pervasive in accordance with SA 705 is a term used in the context of misstatements to describe the effects on the financial report of misstatements or the possible effects on the financial report of misstatements if any that are undetected due to an inability to obtain sufficient appropriate audit evidence. The auditors do not express an opinion on the financial statements. Pervasive means found everywhere or spread everywhere. Disclaimer of Opinion. Pervasive problems leading to a disclaimer or and adverse opinion are. Similarly with a pervasive lack of sufficient appropriate audit evidence. The pervasive effect is the term used to describe the effect of misstatement on the financial statement or the possible effect thereon if any misstatement remains undetected due to auditors inability to obtain sufficient and appropriate audit evidence. Pervasive effects on the financial report are those that in the auditors judgement. This assumes that aside from the matter giving rise to the adverse opinion the auditor has obtained all other necessary evidence to support the opinion. A pervasive misstatement would be so serious that to all intents and purposes the FS are useless.

The auditor shall express an adverse opinion when the auditor having obtained sufficient appropriate audit evidence concludes that misstatements individually or in the aggregate are both material and pervasive to the financial statements. The auditors do not express an opinion on the financial statements. It is auditor who determines whether misstatements are both material and pervasive or not using his professional judgement. Auditor considers it necessary to issue an adverse opinion on the financial statements due to a material and pervasive misstatement in the financial statements. Pervasive problems leading to a disclaimer or and adverse opinion are rare. Insufficient evidence which is material and pervasive is of such significance that auditor is unable to state whether the financial statements give a true and fair view. Pervasive problems leading to a disclaimer or and adverse opinion are. Pervasive effects on the financial report are those that in the auditors judgement. Just material but not pervasive in which case the auditor will express a qualified opinion. The auditor shall disclaim an opinion when the auditor is unable to obtain sufficient appropriate audit evidence on which to base the opinion and the auditor concludes that the possible effects on the financial statements of undetected misstatements if any could be both material and pervasive.

25 When the auditor expresses an adverse opinion the auditor should state in the opinion paragraph thatin the auditors opinionbecause of the significanceofthemattersdescribedinthebasisforadverseopinionpara-graphthefinancialstatementsarenotpresentedfairlyinaccordancewiththe applicablefinancialreportingframework26 When the auditor disclaims an opinion. Pervasive the auditor shall qualify the opinion. It is auditor who determines whether misstatements are both material and pervasive or not using his professional judgement. Insufficient evidence which is material and pervasive is of such significance that auditor is unable to state whether the financial statements give a true and fair view. The pervasive effect is the term used to describe the effect of misstatement on the financial statement or the possible effect thereon if any misstatement remains undetected due to auditors inability to obtain sufficient and appropriate audit evidence. A pervasive misstatement would be so serious that to all intents and purposes the FS are useless. The auditor shall express an adverse opinion when the auditor having obtained sufficient appropriate audit evidence concludes that misstatements individually or in the aggregate are both material and pervasive to the financial statements. The auditor shall disclaim an opinion when the auditor is unable to obtain sufficient appropriate audit evidence on which to base the opinion and the auditor concludes that the possible effects on the financial statements of undetected misstatements if any could be both material and pervasive. Material and pervasive in which case auditor will give adverse or disclaimer of opinion according to the circumstances. Pervasive means found everywhere or spread everywhere.

Material and pervasive in which case auditor will give adverse or disclaimer of opinion according to the circumstances. This assumes that aside from the matter giving rise to the adverse opinion the auditor has obtained all other necessary evidence to support the opinion. 25 When the auditor expresses an adverse opinion the auditor should state in the opinion paragraph thatin the auditors opinionbecause of the significanceofthemattersdescribedinthebasisforadverseopinionpara-graphthefinancialstatementsarenotpresentedfairlyinaccordancewiththe applicablefinancialreportingframework26 When the auditor disclaims an opinion. Likewise what is pervasive in audit opinion. Similarly with a pervasive lack of sufficient appropriate audit evidence. Pervasive problems leading to a disclaimer or and adverse opinion are rare. The auditor shall express an adverse opinion when the auditor having obtained sufficient appropriate audit evidence concludes that misstatements individually or in the aggregate are both material and pervasive to the financial statements. Pervasive in accordance with SA 705 is a term used in the context of misstatements to describe the effects on the financial report of misstatements or the possible effects on the financial report of misstatements if any that are undetected due to an inability to obtain sufficient appropriate audit evidence. Auditor considers it necessary to issue an adverse opinion on the financial statements due to a material and pervasive misstatement in the financial statements. Pervasive problems leading to a disclaimer or and adverse opinion are.

Pervasive problems leading to a disclaimer or and adverse opinion are. Pervasive means found everywhere or spread everywhere. 25 When the auditor expresses an adverse opinion the auditor should state in the opinion paragraph thatin the auditors opinionbecause of the significanceofthemattersdescribedinthebasisforadverseopinionpara-graphthefinancialstatementsarenotpresentedfairlyinaccordancewiththe applicablefinancialreportingframework26 When the auditor disclaims an opinion. Pervasive effects on the financial report are those that in the auditors judgement. It is auditor who determines whether misstatements are both material and pervasive or not using his professional judgement. The auditor shall disclaim an opinion when the auditor is unable to obtain sufficient appropriate audit evidence on which to base the opinion and the auditor concludes that the possible effects on the financial statements of undetected misstatements if any could be both material and pervasive. Pervasive problems leading to a disclaimer or and adverse opinion are rare. The auditor shall express an adverse opinion when the auditor having obtained sufficient appropriate audit evidence concludes that misstatements individually or in the aggregate are both material and pervasive to the financial statements. The pervasive effect is the term used to describe the effect of misstatement on the financial statement or the possible effect thereon if any misstatement remains undetected due to auditors inability to obtain sufficient and appropriate audit evidence. In such a situation a disclaimer of opinion is issued ie.