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Sandeep AhujaSandeep Ahuja asked 12 months ago

Sir, Can you please comment on accuracy of this chart prepared by me on MATERIAL MISSTATEMENT IN COMPARATIVE INFORMATION.
https://drive.google.com/file/d/19LdTcY24-Oow0qJ8k1tfB2kSQxFsMebm/view?usp=sharing

1 Answers
RaviRavi Staff answered 12 months ago

its fine, in corresponding figures adverse and disclaimer are also possible see below paras from sa 710
Modification in Auditor’s Report on the Prior Period Unresolved (Ref: Para. 11)

A3. When the auditor’s report on the prior period, as previously issued, included a qualified opinion, a disclaimer of opinion, or an adverse opinion and the matter which gave rise to the modified opinion is resolved and properly accounted for or disclosed in the financial statements in accordance with the applicable financial reporting framework, the auditor’s opinion on the current period need not refer to the previous modification.
A4. When the auditor’s opinion on the prior period, as previously expressed, was modified, the unresolved matter that gave rise to the modification may not be relevant to the current period figures. Nevertheless, a qualified opinion, a disclaimer of opinion, or an adverse opinion (as applicable) may be required on the current period’s financial statements because of the effects or possible
effects of the unresolved matter on the comparability of the current and corresponding figures.

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