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Home » Questions » Material Misstatement : Sir In sa 705, can u please give example of the case when it is not practicable to quantify the financial effects? Company audit 2 ke notes are not provided for in the notes…?
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Jaspreet Singh SinghJaspreet Singh asked 2 years ago

Sir In sa 705, can u please give example of the case when it is not practicable to quantify the financial effects?  Company audit 2 ke notes are not provided for in the notes…?

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RaviRavi Staff answered 2 years ago

— company has not done impairment, auditor cannot compute exact impact
— company shifted from FIFO to LIFO auditor cannot compute impact as he will need both inventories but he just has LIFO 
 
please email notes problem to ravitaorisir@gmail.com

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