Fixed Deposit balance not matching with Bank - Audit

Samarth (Chartered Accountant) (25 Points)

28 June 2023  

Hi everyone,

If during Audit you find the closing balance of Fixed Deposit as on 31 March shown in books is different from Bank Certificate by a significant margin, how to deal with it in Audit Report? Will it be correct to give a modified opinion, if so?, whether Qualified or Adverse?

Please let me know your thoughts.