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Modified opinion

Misstatement Pervasive to financial statements means?


Rathi Vigneshwari

Rathi Vigneshwari

CA Final

13K+

23-Sep-20 18:52

14

Answers (3)

Substantial and material.


Suraj Lakhotia

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


Shravan Kumar

Shravan Kumar

CA Inter

25K+

27-Sep-20 12:40

adverse opinion not qualified


Shravan Kumar

Shravan Kumar

CA Inter

25K+

13-Oct-20 13:48