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Shyam asked 1 year ago

Can negative comment in CARO repoet form a basis for a modified opinion?

1 Answers
RaviRavi Staff answered 1 year ago

it is not necessary that negative comment on caro will lead to modified opinion on financial statements
for example negative comment because of not adjusting material discrepancy in fixed asset, inventory etc may lead to modification
but negative comment on default of loan etc many not lead to modification if its already disclosed properly in financial statements 

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