Alex Ltd is being sued by one of its competitors for $94 million for an alleged patent infringement. Alex Ltd has assets of $176 million and a reported profit of $14.5 million. Alex Ltd has disclosed the lawsuit in a note to the accounts along with a statement indicating that they intend to vigorously defend the suit and are confident of winning the suit. Your independent legal advice supports this view and you are satisfied with the details provided by the Alex Ltd in the notes to the accounts. 

What type of opinion should you express on the financial report of Alex Ltd?

Provide detailed explanation of the reason for your answer?

Answer rating: 100% (QA)

As an independent legal advisor based on the information provided I would recommend expressing an unqualified opinion on the financial report of Alex ... View the full answer