DevyaniDevyani asked 1 year ago
2 Answers
RaviRavi Staff answered 1 year ago

if previous year figures are misstated and they are not rectified then we need to qualify audit report in both Comp FST Approach & Corresponding Figures Approach as given in SA 710
Only difference is that in Comp FST approach we were expected to report on PY year and we will qualify our opinion on PY with noremal content in Basis of Opinion Para
in Corresponding  Figures approach we were not suppose to report on previous year but as comparison of CY with PY is going wrong, it affects users hence we qualify as it impacts interpretation of CY, here in Basis para we explain this that qualification is made so that users dont misinterpret current year
CONCLUSION we qualify in both approach but content of basis para changes

RaviRavi Staff answered 1 year ago

Our Company Act & Schedule III support Corresponding figure approach 
hence in india you see only current year is referred in intro and opinion para

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