Your Client, Blunt Ltd, Is Being Sued by One of Its

question 7

Multiple Choice

Your client, Blunt Ltd, is being sued by one of its competitors for $20 million for an alleged patent infringement.Your client has assets of $40 million and a reported profit of $10 million. The client has disclosed the lawsuit in a note to the accounts along with a statement indicating that they intend to vigorously defend the suit and are
Confident of winning the suit. Your independent legal advice supports this view and you are satisfied with the
Details provided by the client in the notes to the accounts. What type of opinion should you express on the
Financial report of Blunt Ltd?

• A) An unmodified opinion with an Emphasis of Matter.
• B) A disclaimer of opinion.
• C) An unmodified opinion.
• D) A qualified opinion or adverse opinion.

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Definitions:

Government Regulations

Laws and rules established by the government designed to control and guide the activities of businesses, individuals, and other organizations.

HIPAA

The Health Insurance Portability and Accountability Act, a U.S. law designed to protect patient health information privacy and security.

Medical Assisting Educational Review Board

An organization that evaluates and accredits medical assisting programs to ensure they meet specific educational standards.

Competency-Based Education

An educational approach that focuses on equipping students with specific skills and competencies, rather than time-based learning.