A fair presentation is achieved by compliance with applicable IFRSs. A fair presentation also requires an entity: (choose the incorrect statement) a. to provide additional disclosures when compliance with the specific requirements in IFRSs is insufficient to enable users to understand the impact of transactions b. to select and apply accounting policies in accordance with IAS 8 c. to establish a system of internal control, the responsibility for which is the entity’s auditor. d. to present information, including accounting policies, in a manner that provides relevant, reliable, comparable, and understandable information.
A fair presentation is achieved by compliance with applicable IFRSs. A fair presentation also requires an entity: (choose the incorrect statement) a. to provide additional disclosures when compliance with the specific requirements in IFRSs is insufficient to enable users to understand the impact of transactions b. to select and apply accounting policies in accordance with IAS 8 c. to establish a system of internal control, the responsibility for which is the entity’s auditor. d. to present information, including accounting policies, in a manner that provides relevant, reliable, comparable, and understandable information.
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter1: Auditing: Integral To The Economy
Section: Chapter Questions
Problem 16MCQ
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15. A fair presentation is achieved by compliance with applicable IFRSs. A fair presentation also requires an entity: (choose the incorrect statement)
a. to provide additional disclosures when compliance with the specific requirements in IFRSs is insufficient to enable users to understand the impact of transactions
b. to select and apply accounting policies in accordance with IAS 8
c. to establish a system of internal control, the responsibility for which is the entity’s auditor.
d. to present information, including accounting policies, in a manner that provides relevant, reliable, comparable, and understandable information.
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