I refer to the article “BREAKING: Auditors give adverse ratings to PA’s financial reports” (TR Emeritus, Feb 20).“Adverse opinion” vs “disclaimer of opinion”?
Several issues may be raised. For example, It may be one thing to have an adverse opinion – but to have an “adverse opinion” pertaining essentially to the same discrepancy, apparently for several consecutive years may raise the following questions:
What action did the Board of Directors take?
What action (if any) was taken by the Board of Directors to address the “adverse opinion”?
Why ‘same’ “adverse opinion” allowed to continue?
Why was the ‘same’ “adverse opinion” allowed to continue for several consecutive years? Full story
Related:
Auditors give adverse ratings to PA's financial reports - TR Emeritus
