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Daffy Co 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. This contravenes IAS 38 Intangible assets although the accounts fully disclose the treatment adopted. What form should the opinion in the audit report take? A. An adverse opinion. B. Unmodified, without reference to the matter. C. A qualified opinion due to an inability to obtain sufficient appropriate audit evidence. D. A qualified opinion due to incorrect capitalisation of the expenditure. |