Suggesion

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MANOJ TIRU

1 Points Joined June 2017

According to our audit report the closing balance of April 2014- March 2015 and the opening balance of April 2015- March 2016 is not matching. We have fully utilites the program budget but according to audit report its showing that still their is budget to expense.

Thank you

Replies (1)

Karan Batra

Creator: TheProTalks

2325 Points Joined January 2016

Please refer SA 510 which is on opening balances,

In short what you need to do is

Check the reason for the discrepancies for why the closing and opening are not same
What material effect can it do on current year’s financial statements
See the materiality of such discrepancies and modify your report accordingly