Adverse Opinion vs Disclaimer of Opinion: Two Red Flags That Mean Very Different Things

Adverse Opinion vs Disclaimer of Opinion: Two Red Flags That Mean Very Different Things Adverse and disclaimer audit opinions are both serious, but they mean different things. Here is what Jamaican directors and executives should understand. An adverse audit opinion and a disclaimer of opinion are both serious outcomes, but putting them in the same […]

Key Audit Matters: Where Your Auditor Spent the Most Attention

Key Audit Matters: Where Your Auditor Spent the Most Attention Key Audit Matters show where an external audit demanded significant attention. Here is what Jamaican boards, CEOs and CFOs should look for. An external audit can cover thousands of transactions, dozens of account balances and numerous management estimates. Yet some areas inevitably require more auditor […]

Emphasis of Matter: When a Clean Audit Still Says “Pay Attention”

Emphasis of Matter: When a Clean Audit Still Says “Pay Attention” An Emphasis of Matter does not automatically mean a qualified audit opinion. Learn what Jamaican boards and executives should understand when one appears. Imagine reviewing a 70-page report and finding one paragraph highlighted in yellow. The highlight does not necessarily mean the information is […]

Going Concern in Jamaica: What CEOs and Boards Need to Know

Going Concern in Jamaica: What CEOs and Boards Need to Know What does going concern mean in an auditor’s report? A practical explanation for Jamaican CEOs, CFOs and boards dealing with liquidity and financial uncertainty. “Going concern” is one of those accounting expressions that sounds considerably calmer than the issue it describes. At its core […]