Rectification in audited balance sheet
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 September 2011
can changes be made in signed and audited BALANCE SHEET BEFORE ADOPTION IN AGM ? iF YES WHAT IS PROCEDURE?
11 September 2011
Refer Below :
https://220.227.161.86/eac/eacfinal/vol16/30.htm
https://220.227.161.86/eac/eacfinal/vol16/30.htm
CA Sachin D Jain
(Expert)
12 September 2011
Dear Anonymous,
An auditor can revise audited accounts subject to certain conditions as listed in "GUIDANCE NOTE ISSUED BY ICAI ON AUDITORS' REPORT ON REVISED ACCOUNTS".
As per guidance note, an auditors' report can be revised subject to the following:
1. All original reports are taken back from the auditee.
2. The report should specifically bear a heading "Revised Auditors' Report".
3. Take a declaration from auditee on where the audited report has been circulated (i.e. to which public domain/ public authority)
4. Ensure that revised auditors' report are sent to the above authorities to whom the older report is already circulated.
5. Display in public domain that the report has been revised due to revision of accounts.
6. Consider to avoid the circumstances of revising the report as it gives a very wrong impression in the mind of stakeholders.
Above points are illustrative, for detail pl refer guidance note.
An auditor can revise audited accounts subject to certain conditions as listed in "GUIDANCE NOTE ISSUED BY ICAI ON AUDITORS' REPORT ON REVISED ACCOUNTS".
As per guidance note, an auditors' report can be revised subject to the following:
1. All original reports are taken back from the auditee.
2. The report should specifically bear a heading "Revised Auditors' Report".
3. Take a declaration from auditee on where the audited report has been circulated (i.e. to which public domain/ public authority)
4. Ensure that revised auditors' report are sent to the above authorities to whom the older report is already circulated.
5. Display in public domain that the report has been revised due to revision of accounts.
6. Consider to avoid the circumstances of revising the report as it gives a very wrong impression in the mind of stakeholders.
Above points are illustrative, for detail pl refer guidance note.
13 September 2011
Pl see a good article in https://www.financialexpress.com/news/revision-of-financial-statements-and-audit-report/67324/5
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