Auditing and Assurance Standards and Guidance

Auditing Standards (Ireland)

FRC ISAs (UK and Ireland) applicable for periods beginning on or after 15 December 2010 but before 17 June 2016

ISA (UK and Ireland) 705 Modifications to the opinion in the independent auditors report

ISA (UK and Ireland) 705 applicable in the UK for periods ending on or after 15 December 2010 (UK only)
Application and Other Explanatory Material
Other Considerations Relating to an Adverse Opinion or Disclaimer of Opinion (Ref: Para. 15)
A16.The following are examples of reporting circumstances that would not contradict the auditor's adverse opinion or disclaimer of opinion:
 dotbulletThe expression of an unmodified opinion on financial statements prepared under a given financial reporting framework and, within the same report, the expression of an adverse opinion on the same financial statements under a different financial reporting framework.7
 dotbulletThe expression of a disclaimer of opinion regarding the results of operations, and cash flows, where relevant, and an unmodified opinion regarding the financial position (see ISA (UK and Ireland) 5108). In this case, the auditor has not expressed a disclaimer of opinion on the financial statements as a whole.
7 See paragraph A32 of ISA 700 for a description of this circumstance.
The APB has not promulgated ISA 700 as issued by the IAASB for application in the UK and Ireland. In the UK and Ireland the applicable auditing standard is ISA (UK and Ireland) 700, "The Auditor's Report on Financial Statements." Paragraph A13 of ISA (UK and Ireland) 700 provides guidance on expressing an opinion in respect of an additional financial reporting framework.
8 ISA (UK and Ireland) 510, "Initial Audit Engagements—Opening Balances," paragraph 10.
Top Licence and copyright © 2018, LexisNexis Group a division of Reed Elsevier (UK) Ltd. All rights reserved.