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Modified opinion

Auditing

Misstatement Pervasive to financial statements means?

Rathi Vigneshwari

CA Final

★ 14K+

23-Sep-20 18:52

347

Answers (3)

Substantial and material.

CA Suraj Lakhotia

Admin

23-Sep-20 20:59

There is a lot of difference between misstatement and material misstatement. Misstatement mayor may not affect items of BS but material misstatement surely affects BS ITEMS. A material misstatement and pervasive should be given qualified opinion in case evidence is obtained but disclaim0incase SAAE is not obtained and difference with management