Question { 4661 }

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.

Answer

IF THE ACCOUNTS HAVE NOT BEEN ADOPTED IN AGM, THE AUDITOR
HAS TO GIVE SUPERCEDING REPORT. THE SUPERCEDED REPORT
SHOULD CLEARLY MENTION WHY THERE WAS ANY CHANGE.BUT, HE
CANNOT WITHDRAW THE PREVIOUS REPORT.