Material Misstatement


In sa 705, can u please give example of the case when it is not practicable to quantify the financial effects? 
Company audit 2 ke notes are not provided for in the notes…?

1 answer

Auditguru Staff March 14, 2018

— company has not done impairment, auditor cannot compute exact impact
— company shifted from FIFO to LIFO auditor cannot compute impact as he will need both inventories but he just has LIFO 
please email notes problem to


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