Advanced Auditing & Professional Ethics

As per SA 705 (Revised), when the auditor concludes that misstatements are both material and pervasive to the financial statements, the auditor shall issue:

Under the Chartered Accountants Act, 1949, First Schedule, Part I, Clause (2), a Chartered Accountant in practice is deemed to be guilty of professional misconduct if he pays or allows or agrees to pay or allow, directly or indirectly, any share, commission or brokerage in the fees or profits of his professional business, to: