1 Answers
Sec 131 gives right to CG to frame rules in this regard. No rule framed yet. So we will have to apply, SA 560 Subsequent event. If changes are “Facts if known earlier would have changed opinion” we will revise our audit report.
If company changes things other than facts as described above while revising financial statements following will also be applicable.
Other Amendments:- If law doesn’t restrict Mgt to do other amendments, other than identified subsequent events / auditor can restrict its checking only to subsequent events requiring amendments / in such scenario auditor shall do either of 2 options / Option 1 Include Additional Date indicating that audit procedures were restricted / Option 2 Include EMP or OMP para