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Overdue fees put the auditor at some risk as there is a possibility that client will never
pay those fees. ”This could lead to accusations that the auditor has not qualified the audit
report to reduce the likelihood that a worried creditor triggers the company’s
liquidation.”sir I could not understand the second sentence. can u simplify me?
If the audit report is modified, then this might worry creditors/lenders because they feel they cannot rely on the company’s FS or on the company. This could make them place the company into administration or they might stop supplying the company so causing it to fail. If the company fails, the auditor won’t get paid.
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