Last year Auditor gives unmodified opinion in FST of C Ltd. But C Ltd. Is of view that last year Auditor is not conducted Audit properly therefore in current year C Ltd. Appoint Current year Auditor to present comparative FST. Current year Auditor found that C Ltd. has undercharged the wages of RS. 10 lakhs during the last year result in overstatement of profits. What are the further procedure by current year Auditor…… In this case it should be treated as misstatement of last year and found in current year to Misstatement wale me Jo reporting method Diya hua hai wahi explain karna chahiye that if resolve then clean + emp otherwise qualify as per respective approach….. But answer me normal procedure likha hua hai???
ANSWERED Ravi answered September 24, 2018     Category:
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 In case of audit reporting of "comparative f.s "then if p.y report is unmodified but required modified but p.y auditor is not given modified report then in current year new auditor request the mngt to communicate with previous auditor for give modified opinion ..but my query regarding this point that audit reporting in case "corresponding figure " then does" not" required communication with previous auditor…why sir,please sir give me reason..
CLOSED Ravi answered September 3, 2018     Category:
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 Sir if Comparative FST approach is followed but audit of P.Y. is done by other CA or not done at all; and since audit is not done by CY auditor, he cannot give reference to PY in his audit report. then how can users come to know whether it is Comparative or corresponding FST approach when auditor cannot give reference to PY? AND in such situation if auditor comes across some matter where he is required to give modified opinion, then can he give so on PY's FST? If yes, then he will also be required to do audit again which was already done by some other CA. How will auditor deal in such a situation?
ANSWERED Ravi answered May 18, 2018     Category:
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