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Shraddha sharma asked 1 year ago

Just wanted to know if PY auditor has not amended the will audit report CY auditor state in the audit report that Py audit is not amended and there is a MM in wages? 

1 Answers
RaviRavi Staff answered 1 year ago

if its rectified in current year, it will be shown as prior period item and matter will get resolved
if not rectified, he will say that last year wages are having material misstatement of 10 lakhs, they are understated with corresponding liability overstated

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