Question: an auditor would need to consider when preparing the audit report. What is the title of the additional paragraph that must be included in the

an auditor would need to consider when preparing the audit report. What is the title of the additional paragraph that must be included in the audit reportforeach circumstance?

1.Tulip Pty Ltd (Tulip) has grown in recent years, and this year is the first time it has been audited.

The title of the additional paragraph is emphasis of matter or other matter?

2.Management of Lilly Pty Ltd (Lilly), a large proprietary limited company, has deemed that it is not to a reporting entity, and consequently prepares Special Purpose Financial Statements.

The title of the additional paragraph is emphasis of matter or other matter?

3.Rose Pty Ltd (Rose) is in dispute with the Australian Taxation Office, and is uncertain about the outcome. Management has disclosed this matter in the financial report and the auditor believes this to be a wise course of action by Rose's management.

The title of the additional paragraph is emphasis of matter or other matter?

4.Management of Iris Pty Ltd (Iris) believe that it is essential to provide shareholders with the most relevant information. Consequently, it decided to adopt the new standard on accounting inventory this year (as permitted by the standard setter), even though it is not mandatory until next year.

The title of the additional paragraph is emphasis of matter or other matter?

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