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

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

Kumarjit Dey

CA Inter

4K+

10-Nov-20 21:53

21

Answers (4)

Best Answer

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


Suraj Lakhotia

Suraj Lakhotia

Admin

11-Nov-20 15:47

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

In any case , right? Or there are exceptions?


Kumarjit Dey

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.


Suraj Lakhotia

Suraj Lakhotia

Admin

11-Nov-20 19:32

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