Co audit

This query is : Open

yesha (Querist)
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17 December 2013 if there is violation of accounting standards that need to b followed den whether auditor needs to issue qualified report or adverse report?

Hitendra Jain

Hitendra Jain (Expert)
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17 December 2013 Violation of the accounting standard if falls in the category of misleading or incomplete nature of the financial statements then the auditor shall express an adverse opinion.

If non-compliance of AS and disagreement with management related therewith or limitation on scope is not so material and pervasive as detailed above then the auditor shall express an unqualified opinion as being 'Subject to' or 'Except for' the effects of the matter to which the qualification relates.