SAAE is available

1 Evidence is consistent with books of accounts and other records

2 Maintain document

Misstatement is identified SA 450

1 communicate with management and wa TCWG for rectification

If misstatement is Corrected If misstatement is not Correcte

Clean/unqualified Report Evaluate uncorrected misstatem

Accumulation is Material
Consider impact on opinion
Evaluate the effect of materiality

Material but not pervasive (overall FS) Material and pervasive

Qualified opinion Adverse Opinion
E.g Inventory is valued at cost or MV whichever is lower not followed
FS showing true and fair view except
 Audit Report
Auditor needs to gather sufficient appropriate audit evidence (SAAE) by performing audit evidence

Evidence is not consistent with books of accounts and other records

Perform Additional audit procedures
Discuss the matter with managament and wa TCWG as per SA 260

No misstatement
TCWG for rectification Clean/unqualified Report

If misstatement is not Corrected

Evaluate uncorrected misstatement

Accumulation is not Material

Document
Clean /unqualified Report

and pervasive
audit evidence

SAAE not available

Inquire about reason on unavailability

unvalid Reasons
Limitation on scope of Audit (LOSA) Impact on AR
Consider impact on opinion
Withdraw from engagement

Evaluate the possible effect of undetected

Material but pervasive

E. g
Auditor is unable to find (SAAE) on accouting Balances
Either Qualified/Disclaimer
bout reason on unavailability

Valid Reason
Impact on AR 1 Perform alternate Audit Precedures
2 SAAE not available
3 Consider impact on opinion

the possible effect of undetected misstatement

Material but not pervasive

As to Ind As Matter of paragraph Law
ACPD Amount 5/12/2019
Classification 5/13/2019
discl presentation 5/14/2019
Ind as followed or not 5/15/2019
Asch 3 followed or not 5/16/2019
5/17/2019
Found misstatement effect on opinion 5/18/2019
5/19/2019 Sunday
KAM can not substitute GCP 5/20/2019
GCP - ref write inKAM= listed entity 5/21/2019
5/22/2019
5/23/2019
5/24/2019
5/25/2019 sat
5/26/2019 sun
5/27/2019
5/28/2019
SFM Audit Revision
1day
Portfolio 2day 1day
Leasing 3day 2day
Cap Budg 4day 3day
div 5day 4day
leasing 6day 5day
Security analysis 7day 6day
MF 7day

1580 0.8 70 88480

8000 800000 1

SFM -M & A, FOREX, Derivatives