The Chairman's Report of Pudding Plc States That Investment Property

question 24

Essay

The Chairman's Report of Pudding plc states that investment property rental forms a major part of revenue. However, a note to the financial statements shows that property rental represents only 1·6% of total revenue for the year. The audit senior is satisfied that the revenue figures are correct. The audit senior has noted that an unmodified audit report should be given as the audit opinion does not extend to the other reports.
Is the audit senior correct?

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