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Shyam asked 1 year ago

There was a material misstatement in the prior period financial statements I.e. the corresponding figures but the prior period financial statements are audited by a predecessor auditor so therefore the current auditor mentioned this fact that the previous year’s financial statements were audited by predecessor auditors so now in that case does the current auditor has any responsibility for any mis statement identified in the prior period financial statements , on which and unmodified opinion was previously issued

1 Answers
RaviRavi Staff answered 1 year ago

its a old and very popular question, asked many times
yes auditor will have to ask management to resolve such misstatement, of they dont do it auditor will have to report on it
see answer given in question bank

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