Clearification regarding notes on accounts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 August 2013 Can an Auditor put their remarks related to DEBTORS & CREDITORS in the Notes on Accounts annexed with the audit report of a Concern as "Parties Balances in a few cases are subject to confirmation, reconciliation and final adjustments.". Please provide us the reference to this context.

Ganeshbabu K

Ganeshbabu K (Expert)
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14 August 2013 Yes,,Such note can be mentioned in Notes to Accounts.

And After assessing the Audit risk in Debtors, and creditors balances,,if client unable to provide letter of confirmations.
.
He can give disclaimer OR Modified opinion as per SA705 after conducting substanctive audit procedures AS REQUIRED in SA300

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