Preparing the financial statements of a company where management is unable to confirm that it is a going concern. Assets and liabilities are included at the net value that would be realisable in the event of a forced sale or liquidation.

sufficient in terms of both quality and quantity to satisfy the reasonable expectations of users of the financial statements.

enhancing the user’s confidence in the information that is being reported.

the auditor concludes that the financial statements do not give a true and fair view.

a difference—arising from an error or fraud—between the amount, classification, presentation or disclosure of an item in the financial statements.

An annual general meeting (commonly referred to as an AGM) is a formal meeting held once a year by a company, required by law, to which shareholders are invited.

The auditor concludes that the extent of their inability to obtain sufficient appropriate audit evidence is such that it is not possible to form an opinion on the financial statements.

The inclusion of information in the financial statements, such as further analysis of the primary financial statements, a statement of principal accounting policies applied.

A paragraph included in the auditor’s report that refers to a matter appropriately presented or disclosed in the financial statements that, in the auditor’s judgement, is of such importance that it is fundamental

opinion—the auditor concludes that, except for specific matters explained in the audit report, the financial statements give a true and fair view

Accounting standards set out the requirements for the recognition, measurement, presentation and disclosure of transactions and events that are important to the financial statements.

responsible for the oversight of a company’s financial reporting and accounting, financial regulatory compliance, financial risk management processes, and the engagement of and interaction with the company’s external auditor on

In the context of an audit of financial statements, a high, but not absolute, level of assurance.