Which one of the following statements regarding the emphasis of matter, is true?Group of answer choicesA. An emphasis of matter should be included when a qualified audit opinion has been raised in the audit report, to emphasize whyB. An emphasis of matter refers to a matter that has already been appropriately presented or disclosed in the financial statements, but is of fundamental importance to the user’s understanding of the financial statementsC. The emphasis of matter paragraph should be added before the audit opinion paragraphD. An emphasis of matter should be used as a substitute for a modification to the audit opinion, as it is of fundamental importance to the user’s understanding of the financial statements

The matter being emphasised on in the "Emphasis Matter" paragraph does not result in a modification of the audit opinion. Question 6Answer True False

The addition of an emphasis of matter paragraph in an audit report:Group of answer choicesdoes not affect the auditor’s opinionis only included for going concern uncertaintiesdoes affect the auditor’s opinionis required by the standards to be included in all audit reports

The emphasis of matter paragraph in an audit report would normally refer to the fact that the auditor’s opinion is:Group of answer choicesqualified in this respectan adverse opiniona disclaimer of opinionnot qualified in this respect

A standard unqualified audit report is not required to have which of the elements set out below?Group of answer choicesan opinion paragrapha heading ‘Auditors Opinion’matters the auditor wishes to emphasisethe opinion of the auditor on the financial statements

Which of these items does not form part of the financial report on which the auditor expresses an opinion?Group of answer choicesthe directors' reportany additional disclosures necessary to give a true and fair viewnotes required by Accounting Standardsthe statement of cash flows for the year