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Ken Garrett.
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iyamu
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Sir , how can one identify which is Material but not pervasive and material and pervasive ?
Ken Garrett
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No hard and fast rule and a matter of judgement:
very large errors, or missing audit evidence, that render the FS useless
> a large error affecting lots of parts of the FSIf the problem is pervasive the auditors will either issue an adverse opinion of a disclaimer of opinion. These are not very useful to shareholders because they really can’t rely on much in the FS. Auditors prefer to qualify their opinion if possible so that the problem is isolated (‘except for…’) and other figures have some value.
iyamu
Ken GarrettViewing 2 posts - 1 through 2 (of 2 total)
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