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Kratika asked 4 months ago

If the Current Auditor finds an error which results in fraud by the previous auditor, what current auditor shall do?

2 Answers
RaviRavi Staff answered 4 months ago

that means previous year financial statements are misstated, they dont bring out the truth and previous auditor didnt report it

  1. ask management to rectify it, if they do it thats great, other wise modify (qualify / adverse) audit report with respect to previous year data given in current year financial statements, if it having impact in current year they qualify current year also.
  2. ca can complain regarding poor quality work by previous auditor to disciplinary mechanism
RaviRavi Staff answered 4 months ago

that means previous year financial statements are misstated, they dont bring out the truth and previous auditor didnt report it

  1. ask management to rectify it, if they do it thats great, other wise modify (qualify / adverse) audit report with respect to previous year data given in current year financial statements, if it having impact in current year they qualify current year also.
  2. ca can complain regarding poor quality work by previous auditor to disciplinary mechanism

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