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Will auditor report disclaimer of opinion or adverse report in this case?

Auditing

The case: Auditor asks for Banker's Certificate from management. Management provides a Written Representation Letter. Auditor, obviously not being satisfied (as it is not SAAE), he decides to perform further procedure. He approaches the bank to collect the certificate copy. Bank doesn't respond despite auditor sending the communication multiple times. How does he modify his report as prt SA 705 in the above case?

Kumarjit Dey

CA Inter

★ 4K+

10-Nov-20 21:53

330

Answers (4)

Best Answer

If Auditor is not able to obtain evidence, he will issue disclaimer.

CA Suraj Lakhotia

Admin

11-Nov-20 15:47

CA Suraj Lakhotia Admin

If Auditor is not able to obtain evidence, he will issue disclaimer.

In any case , right? Or there are exceptions?

Thread Starter

Kumarjit Dey

CA Inter

★ 4K+

11-Nov-20 17:09

Depends on case to case basis. If some form of evidence is available but auditor is not convinced and it materially alters financial statement, then adverse opinion.

CA Suraj Lakhotia

Admin

11-Nov-20 19:32

CA Suraj Lakhotia Admin

Depends on case to case basis. If some form of evidence is available but auditor is not convinced and it materially alters financial statement, then adverse opinion.

Okay. Thank you

Thread Starter

Kumarjit Dey

CA Inter

★ 4K+

11-Nov-20 22:01