You are the external auditor of EMG Ltd, a manufacturing company. For the financial year...
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Accounting
You are the external auditor of EMG Ltd, a manufacturing company. For the financial year ended 31 December 2021, EMG included in its financial statements revenue of $11 million relating to a sale of a specialised testing equipment to the Australian government. You audited the account and found that EMG had failed to build and deliver the equipment on time and to the contract specification and had been asked to return the money.
Required:
Select which form of opinion you would consider the most appropriate to use. Give reasons. (2 Marks)
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