an auditor gave his report and later he found an material
misstatement in the financial statements regarding the
period for which he gave report.now he is willing to change
his opinion.is it possible.
- 2 Answers
- 4665 Views
- I also Faced
- E-Mail Answers
Answer Posted / latha
If once he gave the report, he is not suppose to change any
entries or he can not make any changes int he financial
statment.
but only given report means not a problem, still
finalisation he can adjust the entries by putting Journals,
but after preparation of Balance Sheet it is not possible,
Once it is signed & submitted means.....not possible.
if any adjustment or any new entries is there means, he can
taken into next period by showing O/s for that year.
Overall view we can say, in some cases changeing opinion
can be submitt, or in someother cases it can not be so easy
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
What should the internal auditor?
which type audit for your company account
What is pr ? why it is prepared and what is its purpose ? who is responsible for preparing it ? And on any fault in it who is liable ? And what will happen if fault comes ?And What are major reasons of fault ?
What are the reasons for getting audited?
What are the basic principles of an internal audit controlsystem?
What to do after the audit?
why auditors are not true and faire statement of account
What do you know about KPMG?
can external audit be seen as merely an overhead cost adding no value to the orgnisation
Why do you want to work in audit?
How will you calculate impairment of assets of a software company?what is the necessary steps briefly describe?
How does an internal audit differ from an external audit?
May deduct TDS Froma reseller ?
what supporting documents do we vouch to for sales, purchases, receivables, payables, sales cutoff, and liabilities cutoff?
What do you mean by vouching?
