How to report an error correction — AccountingTools
How to Issue a Corrected Audit Report
Sample accountant’s review report for SSARS 21
Audit reports vouch for the credibility of financial statements, and investors, banks and other stakeholders need accurate financial statements to make good business decisions.
The accountant should restate prior period financial statements when there is an error correction.
However, the reauditor and the predecessor may have different ways of evaluating the effect of these uncorrected misstatements.
Our opinion is not modified in respect of this matter.