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Daffy, a limited liability company, makes and sells medical equipment and has a sizeable research and development unit. The directors have identified three material applied research projects whose results they hope will be developed into viable products. They have therefore capitalised the expenditure on these projects and will amortise it over three years. The accounts fully disclose the treatment adopted. What form should the auditor's opinion and report take? A. Unqualified, with an emphasis of matter paragraph drawing attention to the relevant disclosure note. B. Qualified, material misstatement regarding capitalisation of the expenditure. C. Qualified, material misstatement regarding viability of the products. D. Unqualified, without reference to the matter. |