Auditguru Auditguru Frequently Asked Questions(FAQ) Auditguru Auditguru
 Meet Us Here
Bandhan Preet SinghBandhan Preet Singh asked 3 months ago

Dear Sir,
Needed some guidance on how to write answer for CNO 58.500. 

1 Answers
RaviRavi Staff answered 3 months ago

— explain SA 500 is applicable
— explain 3 steps before relying on expert ( it should be prime facie dependable)
— inconsistencies between evidences should be resolved
— in this case there is wide gap between expert’s opinion and actual amount
— this shows auditor has not applied requirements of SA 500 properly
— auditor should have asked for proper provision

Call Back Request