1. The balance sheet date of PT ABC is December 31, 2021. Directors of PT ABC signed the financial statement on March 10, 2022. On March 15, 2022, management of PT ABC submitted the financial statements to the shareholders,

Questions:

a. determine the auditor's report date

b. on February 20, 2022, the auditor discovered an error in the allocation of overheads to inventories such that inventories are overstated by 150 million. Explain how this fact should be reflected in the financial statements for the year ended December 31, 2021