Material misstatement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 February 2015
If an auditor fails to disclose or discloses erroneous information in the published financial statements, would it constitute professional misconduct of the auditor implying material misstatements in the financial statements? Also if an auditor fails to provide certain information in one year but discloses in subsequent year or vice versa,would it constitute professional misconduct of the auditor implying material misstatements in the financial statements?
Thanks in advance.
Thanks in advance.
11 February 2015
the ans to both question is yes and refer sch i and ii to chartered accountant act 1949
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