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A number of technical articles say that basis of opinion paragraph should be included before opinion paragraph. This is incorrect, right?
Also please correct me if I’m wrong here:
if there is a misstatement of other information and the entity doesn’t correct it, then auditor will mention this in the ‘other information ‘ section of audit report.
If the misstatement is of financial statements due to which material inconsistency arises then auditor will consider the impact on audit report.The basis of opinion is after the opinion para. See here:
If there is a material misstatement in the FS then the audit opinion will be qualified or adverse.
If there is a material misstatement somewhere else in the company report (eg director’s report) but no in the FS, then the auditor will draw shareholders’ attention to this in the audit report in an ‘Other matter’ paragraph in the audit report..
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