Ashish Patel asked 4 years ago
C.y me p.y ki matter unresolved hey and also in c.y not material affect then why also give modified opinion in respect of p.y report?
1 Answers
Ravi Staff answered 4 years ago
In Comparative Financial Statement Approach we have to comment on both years, CY & PY so here we should always comment about PY.
In Corresponding figures approach we generally comment on CY only, but if there is misstatement in PY then comparison on CY with PY goes wrong and gives in appropriate interpretations, hence it is mandatory to modify with respect to PY and explain it is done because CY comparison and interpretation is going wrong.