Portuguese to English translations [PRO]
Bus/Financial - Accounting | | Portuguese term or phrase: ênfase | | Emitida Certificação legal de contas, sendo o Parecer de revisão: Sem Reservas e Sem Ênfases |
| MisuKudoZ activityQuestions: 944 ( 1 open) ( 44 closed without grading) Answers: 143
Romania
| | Local time: 06:30
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| | emphasis of matter | Explanation:
It is necessary to distinguish between 'Reserva' (Qualification), which qualifies (affects) the auditor's opinion, and 'Ênfase' (Emphasis of Matter) which does not affect the auditor's opinion but which highlights certain information about the accounts for the benefit of shareholders/readers. These occupy two separate paragraphs in the opinion, titled "Qualification" and "Empahsis of matter".
If you Google "auditor's opinion" + "emphasis of matter", Misu, you will find heaps of references, of which I offer the following three:
CHAPTER-IV
REPORTING STANDARDS
11.4 Emphasis of Matter. In certain circumstances the auditor may consider that the reader will not obtain a proper understanding of the financial statements unless attention is drawn to unusual or important matters. As a general principle the auditor issuing an unqualified opinion does not make reference to specific aspects of the financial statements in the opinion in case this should be misconstrued as being a qualification. In order to avoid giving that impression, references that are meant as "emphases of matter" are contained in a separate paragraph from the opinion. However, the auditor should not make use of an emphasis of matter to rectify a lack of appropriate disclosure in the financial statements, nor as an alternative to, or a substitute for, qualifying the opinion.
http://cag.nic.in/html/auditing_standards_ch4.htm
Matters That Do Not Affect the Auditor's Opinion
In certain circumstances, an auditor's report may be modified by adding an emphasis of matter paragraph to highlight a matter affecting the financial statements which is included in a note to the financial statements that more extensively discusses the matter. The addition of such an emphasis of matter paragraph does not affect the auditor's opinion. The paragraph would preferably be included preceding the opinion paragraph and would ordinarily refer to the fact that the auditor's opinion is not qualified in this respect.
http://www.caalley.com/aas/aas28.html
ISA 701 Modifications to the Independent Auditor’s Report
(International Federation of Accountants)
ISA 701 currently deals with both qualifications to the auditor’s opinion (“except for” opinion,
disclaimer of opinion and adverse opinion) as well as emphasis of matter requirements which do not
affect the auditor’s opinion.
As noted above, two objectives for the revision of ISA 701 is improving the understandability and
enhancing the relevance and usefulness of ISA 701. In considering how to achieve these objectives
the task force questioned whether addressing emphasis of matter in the same ISA as qualification is
appropriate because emphases of matter do not give rise to qualifications to the auditor’s opinion.
http://66.102.9.104/search?q=cache:7FxLOpMKDhIJ:www.ifac.org...
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| Selected response from:
 lexical
Spain
Local time: 05:30
| Grading comment Ok. Obrigada a todos.
4 KudoZ points were awarded for this answer |
| |
| Discussion entries: 0 |
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Automatic update in 00:
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1 hr confidence:   peer agreement (net): +1 highlights
Explanation:
highlights, emphphasizes
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Note added at 1 hr (2008-02-13 09:06:20 GMT)
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P.S. emphasizes
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Note added at 4 hrs (2008-02-13 11:52:07 GMT)
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with no remarks
| | |
9 hrs confidence: emphasis of matter
Explanation:
It is necessary to distinguish between 'Reserva' (Qualification), which qualifies (affects) the auditor's opinion, and 'Ênfase' (Emphasis of Matter) which does not affect the auditor's opinion but which highlights certain information about the accounts for the benefit of shareholders/readers. These occupy two separate paragraphs in the opinion, titled "Qualification" and "Empahsis of matter".
If you Google "auditor's opinion" + "emphasis of matter", Misu, you will find heaps of references, of which I offer the following three:
CHAPTER-IV
REPORTING STANDARDS
11.4 Emphasis of Matter. In certain circumstances the auditor may consider that the reader will not obtain a proper understanding of the financial statements unless attention is drawn to unusual or important matters. As a general principle the auditor issuing an unqualified opinion does not make reference to specific aspects of the financial statements in the opinion in case this should be misconstrued as being a qualification. In order to avoid giving that impression, references that are meant as "emphases of matter" are contained in a separate paragraph from the opinion. However, the auditor should not make use of an emphasis of matter to rectify a lack of appropriate disclosure in the financial statements, nor as an alternative to, or a substitute for, qualifying the opinion.
http://cag.nic.in/html/auditing_standards_ch4.htm
Matters That Do Not Affect the Auditor's Opinion
In certain circumstances, an auditor's report may be modified by adding an emphasis of matter paragraph to highlight a matter affecting the financial statements which is included in a note to the financial statements that more extensively discusses the matter. The addition of such an emphasis of matter paragraph does not affect the auditor's opinion. The paragraph would preferably be included preceding the opinion paragraph and would ordinarily refer to the fact that the auditor's opinion is not qualified in this respect.
http://www.caalley.com/aas/aas28.html
ISA 701 Modifications to the Independent Auditor’s Report
(International Federation of Accountants)
ISA 701 currently deals with both qualifications to the auditor’s opinion (“except for” opinion,
disclaimer of opinion and adverse opinion) as well as emphasis of matter requirements which do not
affect the auditor’s opinion.
As noted above, two objectives for the revision of ISA 701 is improving the understandability and
enhancing the relevance and usefulness of ISA 701. In considering how to achieve these objectives
the task force questioned whether addressing emphasis of matter in the same ISA as qualification is
appropriate because emphases of matter do not give rise to qualifications to the auditor’s opinion.
http://66.102.9.104/search?q=cache:7FxLOpMKDhIJ:www.ifac.org...
| lexical
Spain
Local time: 05:30
Specializes in field
Native speaker of:  English
PRO pts in category: 20
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