Entire Section

  • Modified Reports

    • 4.18

      Where the reporting accountants issue a modified  report, they must refer to all material matters about which they have reservations. All reasons for the modification must be given and its effect quantified if this is both relevant and practical. A modified report issued by the reporting accountants in respect of a new applicant may not be acceptable where the modification relates to a matter of significance to investors.

    • 4.19

      Where the accountants' report relates to a very substantial disposal or an acquisition which is a reverse takeover, a very substantial acquisition or a major transaction and the report is expected to include a modified opinion, the Exchange must be consulted at an early stage.