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Bijay Babu BanstolaBijay Babu Banstola asked 2 years ago

Do auditor express opinion based on fair presentation framework or compliance framework in audit of CFS? In objective of auditor it says i) to enable himself to express an opinion on true and fair view presented by cfs, which is fair presentation framework ii) to satisfy himself that cfs is prepared as per requirements of applicable frf, which is similar to wordings of compliance framework please clarify..

2 Answers
RaviRavi Staff answered 2 years ago

there was lot of chaos because of corona virus so couldn’t answer queries on time, will try to answer it today and then i will try to do it on daily basis

RaviRavi Staff answered 2 years ago

in fair presentation we have to express 2 things — true & fair view + implementation of applicable FRF 
in compliance framework  we have to express  only 1 thing — implementation of applicable FRF 

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