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Going concern and audit report

Rafeeq Mohammed (Assistant Manager) (55 Points)

07 November 2020

can material uncertainty related to going concern (MURG) paragraph shall be included in adverse/qualified(except for) or is MURG is to used only when unmodified opinion is isued

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Saikrishnan S (Chartered accountant - Plintron) (186 Points)
Replied 14 December 2020

It all depends on whether or not the financial statements contain sufficient disclosures.

If in case the financial statements contains disclosures about the uncertainty in going concern, unmodified opinion is issued whereas no such disclosures are there in Financial statements - Qualified opinion is issued.

So answer to your question is material uncertainty related to going concern can be included in both adverse / qualified opinion and unmodified opinion.