Consider each of the following independent situations which have come to your attention. Ineach of the following independent and material situations assume that the client is areporting entity and that a general-purpose financial report has been prepared and audited: The annual report of Ranger Limited includes a detailed graph showing revenue for the last 10 years. You note that there are some inconsistencies between the graph and the figures in the audited financial report. Management does not want to change the graph because it would involve increased printing costs
Consider each of the following independent situations which have come to your attention. Ineach of the following independent and material situations assume that the client is areporting entity and that a general-purpose financial report has been prepared and audited: The annual report of Ranger Limited includes a detailed graph showing revenue for the last 10 years. You note that there are some inconsistencies between the graph and the figures in the audited financial report. Management does not want to change the graph because it would involve increased printing costs
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process
Section: Chapter Questions
Problem 7RQSC: Professional guidance indicates that the auditor should consider revenue recognition to be high risk...
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Consider each of the following independent situations which have come to your attention. In
each of the following independent and material situations assume that the client is a
reporting entity and that a general-purpose financial report has been prepared and audited: The annual report of Ranger Limited includes a detailed graph showing revenue for
the last 10 years. You note that there are some inconsistencies between the graph and the
figures in the audited financial report. Management does not want to change the graph
because it would involve increased printing costs
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