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Sa 710 & 720 by ca dhruv agrawal

Ex Chairman CIRC OF ICAI,Exami (ca) (1143 Points)

17 January 2012

https://www.youtube.com/watch?v=8vVz4z_2mmk

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3 Replies

Harshal Sheth (...) (29 Points)
Replied 13 March 2012

is there any revision in SA 710 in respect of audit report format etc.. with the applicability from 2012 onwards?? pls reply asap ..

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Ex Chairman CIRC OF ICAI,Exami (ca) (1143 Points)
Replied 13 March 2012

yes, revised Auditor is required to report on both the current period financial statements and the prior period financial statements in connection with the current year’s audit.  The financial reporting framework used in preparing the financial statements is other than accounting principals generally accepted in India. However, the audit is performed in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India.  The auditor’s report on the prior period, as previously issued, included a qualified opinion.  The matter giving rise to the modification is unresolved.  The effects or possible effects of the matter on the current period’s figures are material to both the current period financial statements and prior period financial statements and require a modification to the auditor’s opinion.

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Harshal Sheth (...) (29 Points)
Replied 14 March 2012

Thank you sir.

I got the overall idea about it but is there any link or something where i can get the difference between old and revised SA710 as a comparitive chart.

Looking forward for your reply.