What the document covers
The bulletin distinguishes voluntary correction by directors from court-directed revision. It discusses auditing implications of the 2018 financial statement correction framework.
Specific requirements and implications
Unless exempt, revised statements must be audited by the current auditor or, with the required agreement, the original auditor. They are treated as prepared on the original statement date, so the revision is not an opportunity to incorporate every later development. The auditor's report refers to the identified defects and material corrections. Audit work must support the entire revised presentation, not merely check that the numerical amendment has been entered.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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