Simple accounting Questions

I received an audit adjustment from PWC, it states that:-
AA#1
Fixed Assets - CIP................XX ~~~~Other Receivable.....................XX Being overstated of the fixed assets - CIP
Are they correct? I thought they should write "Being understated of the fixed assets - CIP", right??
Thz...
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<BLOCKQUOTE dir=ltr style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> <DIV><FONT face=Arial size=2>I received an audit adjustment from PWC, it states that:-</FONT></DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2>AA#1</FONT></DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2>Fixed Assets - CIP................XX</FONT></DIV> <DIV><FONT face=Arial size=2>~~~~Other Receivable.....................XX</FONT></DIV> <DIV><FONT face=Arial size=2>Being overstated of the fixed assets - CIP</FONT></DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2>Are they correct?&nbsp; I thought they should write "Being understated of the fixed assets - CIP", right??</FONT></DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2>Thz...</FONT></DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2>the entry indicates the fixed assets were understated</FONT></DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2>.</FONT></DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV> <DIV><FONT face=Arial size=2></FONT>&nbsp;</DIV></BLOCKQUOTE></BODY></HTML>
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