Please advice whether the Revised SA 700 is applicable in the preparation of financial statements for the year ended 31.03.2012 .
2 Replies
CA Gorav Bansal
(Practice)
(27 Points)
Replied 21 June 2012
first of all i want to clear that sa 700 is nt applicable on preparation of financial statements, it is a standard to express opinion ovr financial statements (unmodified opinion only becoz for modified opinion sa 705 and 706 are applicable) and yes it is applicable for the year ended 31.03.2012 as well
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