Sir 1. If Sebi Have Ordered Revision of FST , which figure should be taken- In Video u Say Revision figure not be Taken , But in Notes Clearly Put Revision Figure should be taken. 2. If Branch Outside India has Only Expenses and no Revenue , such Exp Should be Deducted to Arrive NP ?

Questions › Sir 1. If Sebi Have Ordered Revision of FST , which figure should be taken- In Video u Say Revision figure not be Taken , But in Notes Clearly Put Revision Figure should be taken. 2. If Branch Outside India has Only Expenses and no Revenue , such Exp Should be Deducted to Arrive NP ?

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audit Staff asked 9 years ago

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admin answered 9 years ago

hello abhishek, if sebi has asked for revision opinion is we should take revised figure, further if auditor has qualified audit report then we don’t revise financial statements. if as per sebi– take revised if as per auditor– continue with as per financial statements Just like we ignore profits of foreign branch ignore expenses and losses. if losses / expenses were deducted add it back to profits, if not yet adjusted don’t do any thing.