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August 25, 2015 at 3:12 am
what will be the affect on audit report? if I found some errors and fraud in financial statements even those errors or fraud are not material. After that management don`t want to remove or correct the financial statements.
Kim Smith says
November 26, 2019 at 7:41 am
The auditor only reports on matters that are material – so if not material there would be no mention of a fraud (or error). Even if a fraudulent matter is material the auditor’s modified opinion is not going to spell out “this is a fraud” (as that is a matter for the courts to decide).
August 17, 2015 at 7:10 pm
Great lecture! Did you in some other lecture talk about responsibilities of auditors,managment related to law and regulations?
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