Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
On 3 January 2018, Retail Auto Parts Limited (RAP) received a notice from its primary supplier that, effective immediately, all wholesale prices...
On 3 January 2018, Retail Auto Parts Limited (RAP) received a notice from its primary supplier that, effective immediately, all wholesale prices would increase by 10%. On the basis of this notice, RAP revalued its 31 December 2017 inventory to reflect the higher costs. Inventory is a material proportion of total assets, however the effect of the revaluation was not material to profit. The increase in valuation is adequately disclosed in the notes to the financial statements.
What is the appropriate type of audit opinion for each of the above scenarios. and what ISA says so
