Accounting 339 Assignment II Audit PalEx a Palestinian listed company issued its financial statements on the 31t of December 2019. The company does not issue comparative statements. The company Audit report in 2018 was qualified due to material departure from IFRS in accounting for inventory. The company now Accounts for their inventory using FIFO. You are an auditor PalEx asked to review the financial statements. Required: - Can you conduct a review Explain your answer? - Based on your answer what would you advise PalEX do If they accept your advise and you performed all your procedures write the report

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.