Dear Experts and Friends,
I am having a problem dealing with the following. I humbly request you to put forth some logical suggestions.
A company remains un-audited for a long period. Numerous material events happened between the un-audited first year financials date and the year in which the same financials were brought to audit, pertaining to that year, including retrospective revision of law, causing huge liabilities. Are the material events adjustable in the said financials considering AS 4 ? Please explain.
CAclubindia
