Can Audited Financial statements be revised & audited again

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Priyank Phadnis (Querist)

07 August 2009 If financial statements are audited and need to be revised can it be done?
If yes when?
How would the whole process take place?
What happens if shareholders have accepted the statements?
What if the financial statements are revised before the shareholders AGM?
When does this amount to reinstatement of accounts?

Deepali

Deepali (Expert)

07 August 2009 Audited Statements cannot be revised except in the case of revision required under any Statute. Before giving revised Statements, auditor should collect all the original copies of financial statements.

Priyank Phadnis

Priyank Phadnis (Querist)

07 August 2009 Hi Deepali,
Thank you so much for taking keen interest in my querry...
I would like to elaborate further :-
If the auditor is fine with the reasons for revised financial statements and the same happens before the financial statements are approved in the AGM... and the revised financial statements are approved in the AGM

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