Question：The directors of SAR, a limited liability company, have failed to write off a bad debt in the financial statements relating to ABC Co, a company which went bankrupt on 14 July 20X2. SAR's year end is 30 June 20X2 and included in receivables is an amount of $100,000 owed by ABC. This amount is material to the financial statements.
If the directors do not amend the financial statements, which of the following auditor's opinions will be expressed?
A. Unmodified as bankruptcy occured after year-end.
B. Adverse opinion.
C. Qualified due to material misstatement.
D. Qualified due to inability to obtain sufficient appropriate audit evidence.
The correct answer is: Qualified due to material misstatement.
解析：The bankruptcy of a receivable is an adjusting event. If the directors fail to provide against the receivable the auditor should modify his opinion on the grounds of material misstatement. The amount involved is material but unlikely to be pervasive, therefore the auditor should issue a qualified opinion.
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