what if the baseline is found to be wrong?

Saying the baseline is 'wrong' is like saying the contract is 'wrong'

Who accepted what?

You have made two different statements. This first being "the baseline is wrong", and the 2nd being that the critical path has changed. Which of the two statements do wish to be considered when answering your question? 

What do you mean by "Wrong baseline"?

1. Have you assigned the incorrect baseline?

2. Is the official baseline itself not credible?

What do you mean baseline is wrong? Do you mean that the sequence of works cannot be executed based on the actual technical/ site conditions? or forecasted variables that may contribute to the delay of the project is not applicable to the implementation of the project? There are many circumstances wherein the baseline may not be applicable for implementation so kindly elaborate what you mean.

What do you mean baseline is wrong? Do you mean that the sequence of works cannot be executed based on the actual technical/ site conditions? or forecasted variables that may contribute to the delay of the project is not applicable to the implementation of the project? There are many circumstances wherein the baseline may not be applicable for implementation so kindly elaborate what you mean.