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Abhishek PanegalAbhishek Panegal asked 5 years ago

Dear Sir,
In this question, wouldn’t mentioning about 143(12), CARO 2016, and SA 240 be more appropriate? Answer given is more general sort of as to disclosure of fraud existing by the auditor and obligations of client to prepare FS as per FRF etc. 

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Abhishek PanegalAbhishek Panegal replied 5 years ago

Further also SA 200 that auditor provides only reasonable assurance not absolute assurance owing to inherent audit limitations.

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RaviRavi Staff answered 5 years ago

This answer is based on guidelines issued by ICAI on illegal acts
you have to give answer as explained 
else you will loose marks
this question is not exactly on frauds in financial statements