Marvelous Pervasive Audit 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. 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. 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.

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The auditors do not express an opinion on the financial statements.

Pervasive audit opinion. 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. Pervasive the auditor shall qualify the opinion. In such a situation a disclaimer of opinion is issued ie.

Similarly with a pervasive lack of sufficient appropriate audit evidence. Pervasive problems leading to a disclaimer or and adverse opinion are. A pervasive misstatement would be so serious that to all intents and purposes the FS are useless.

Likewise what is pervasive in audit opinion. It is auditor who determines whether misstatements are both material and pervasive or not using his professional judgement. Pervasive means found everywhere or spread everywhere.

Pervasive problems leading to a disclaimer or and adverse opinion are rare. Pervasive means found everywhere or spread everywhere. Disclaimer of Opinion.

A pervasive misstatement would be so serious that to all intents and purposes the FS are useless. Material and pervasive in which case auditor will give adverse or disclaimer of opinion according to the circumstances. Pervasive effects on the financial report are those that in the auditors judgement.

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 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.

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