Material Inconsistencies (2)

Question 1

Result of other information is misstated?

Answer 1

Management correct other information
Management refuse to correct other information

Question 2

Result of management correct other information?

Answer 2

Include Other information section

Question 3

Result of management refusing to correct other information (communicate governance)

Answer 3

Communicate with those charged with governance and modify audit opinion

Question 4

Result of management refusing to correct other information (withdraw engagement)

Answer 4

Withdraw from engagement (if permitted legally)

Question 5

Result of communication or withdrawal when management reguse to correct other information

Answer 5

Include Other Information section immediately after basis of opinion and include a description of the misstatement

Question 6

What does auditor’s report include?

Answer 6

A separate “Other information” section when auditor has obtained some or all of other information as of date of auditor’s report

Question 7

What happens for reporting for listed entities?

Answer 7

Is included if other information is expected to be received after date of the auditor’s report