Auditing
This query is : Resolved
18 November 2013
You must have seen Annual Report (booklet) of any public company. For the purpose of SA 720, 'document containing other fin info' means such Annual Report. This is just example. It could be any such other document.
Example of other info :-
Auditor has reported in his Audit Report that company is in crisis and going concern assumption is in doubt. But, Directors in their Directors' Report have stated that company is in good position and in future planning to acquire other businesses etc. etc. Now, here, contrast is there between Auditor's Report & Directors' Report.
This is called 'inconsistency' for purpose of SA 720. Auditor should take care that such contrast should not be there since it will reduce credibility of his report.
Example of other info :-
Auditor has reported in his Audit Report that company is in crisis and going concern assumption is in doubt. But, Directors in their Directors' Report have stated that company is in good position and in future planning to acquire other businesses etc. etc. Now, here, contrast is there between Auditor's Report & Directors' Report.
This is called 'inconsistency' for purpose of SA 720. Auditor should take care that such contrast should not be there since it will reduce credibility of his report.
18 November 2013
Agree with Aryanji
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- TDS related Query_Liquidated Damages
- Free lancer income
- Last year TDS Claim
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Soyabean hsn code and gst rate
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
