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Revision of Audited Financial Statement

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rajesh_chauhan81

22 Points Posted on 17 January 2021

Dear Members,

if there is gross negligence by previous auditor in Financials statement, can it be revised?

Thanks!

Replies (6)

Quick Summary

This discussion explores whether audited financial statements can be revised, particularly for FY 2018-19, if gross negligence by the previous auditor is suspected. While revisions are generally discouraged and require specific conditions, including the original auditor's involvement, the feasibility and potential scrutiny for a 2018-19 revision are debated.

ayusmita

Tax consultant

5895 Points Posted on 17 January 2021

Which year 19-20
then it can revised with proper reason for revision

rajesh_chauhan81

22 Points Posted on 17 January 2021

This is for FY 2018-19

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 17 January 2021

For fy 18-19 last date for revision is was 30.11.2020

ayusmita

Tax consultant

5895 Points Posted on 17 January 2021

Then you can't
even you did with permission might be chance of scrutiny
just talk to your AO

Kapadia Pravin

17269 Points Posted on 17 January 2021

Revising of accounts require to be avoided to possible extent. Auditor normally do not ok revision. Revision of accounts can be done by Auditor who signed.