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Auditor Report

The auditor audited Sunset Bhd's financial statements for the year ended 31 August 2019. The audit was conducted according to approved auditing standards to obtain sufficient evidence regarding the financial statements. The auditor believes the audit provides a reasonable basis for their opinion. While the financial statements may be fairly presented if adequate disclosure is made, the board should be aware that Sunset Bhd may not be able to continue as a going concern due to its inability to repay substantial loans to bankers. The auditor assumes a qualified opinion is necessary. Any subsequent events discovered after the statements were issued on 31 August 2020 should be discussed with the board to determine appropriate actions.

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44 views

Auditor Report

The auditor audited Sunset Bhd's financial statements for the year ended 31 August 2019. The audit was conducted according to approved auditing standards to obtain sufficient evidence regarding the financial statements. The auditor believes the audit provides a reasonable basis for their opinion. While the financial statements may be fairly presented if adequate disclosure is made, the board should be aware that Sunset Bhd may not be able to continue as a going concern due to its inability to repay substantial loans to bankers. The auditor assumes a qualified opinion is necessary. Any subsequent events discovered after the statements were issued on 31 August 2020 should be discussed with the board to determine appropriate actions.

Uploaded by

Muhd Zulhusni Musa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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REPORT AUDITOR TO THE MEMBERS OF SUNSET BHD

We have audited the financial statement of Sunset Bhd set out on pages to, comprising the
balance sheet of the company and notes to the accounts as at 31 st August 2019 and of the
date profit and loss account and cash flow statement of the company for the year ended on the
date. The preparation of the financial statements based on our audit.

We conducted our audited in accordance with the approved standards on auditing to obtain all
the information and explanations, which we considered necessary to provide us with
sufficient evidence to give reasonable assurance that the financial statements are free from
material misstatements. Our audit includes examining, on a test basis, evidence relevant to
the amounts and disclosures in the financial statements. Our audit includes assessment of
accounting principles used and significant estimates made by the directors as well as
evaluating of the adequacy of the presentation of information in the financial statements. We
believe our audit provides a reasonable basis for our opinion.

In our opinion :

a) ISA570 Going Concern provides guidance on the auditor’s responsibilities in the


audit of financial statements regarding the appropriateness of the going concern
assumption for the preparation of the financial statements :
i. Sunset Bhd may not be able to operate in foreseeable future because of unable to
meet a substantial repayment of loan from its bankers but Sunset Bhd be able to
operate in foreseeable future if the company may done one of the financial
indicator in accordance with ISA 570.
b) ISA700 provides that if adequate disclosure is made in the financial statements the
auditor should ordinarily express an unqualified opinion :
i. We assumed that a weak unqualified auditor report because the board of director
must know about (a) and responsible for a going concern in ISA570.
c) An applicable to accounting standards which is subsequent events in MFRS 110, the
accounting treatment should be :
i. We should discuss with the board of director and take an appropriate action in
the circumstance as the Financial Statement already issued as at 31 August
2020 and the facts was discovered after Financial Statement released..

The unqualified audit report with explanatory paragraph meets the criteria of a complete audit
with satisfactory results and financial statements that are fairly presented and believes it is
important to provide additional information.

Arham & Rohimi Arham Rohimi Bin Abd. Halim


Firm No : xxxx
Partner
Chartered Accountants Approval No :
xxx
Pokok Sena
24 August 2020

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