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 management of Surf Limited's has refused to disclose a few, director related transactions on the grounds of commercial confidentiality. The financial controller reminds you that no other errors have been found in the financial report and states that the transactions are immaterial and therefore irrelevant to the users of the financial report.
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 management of Surf Limited's has refused to disclose a few, director related transactions on the grounds of commercial confidentiality. The financial controller reminds you that no other errors have been found in the financial report and states that the transactions are immaterial and therefore irrelevant to the users of the financial report.
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
Chapter16: Advanced Topics Concerning Complex Auditing Judgments
Section: Chapter Questions
Problem 38RSCQ
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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 management of Surf Limited's has refused to disclose a few, director related
transactions on the grounds of commercial confidentiality. The financial controller reminds
you that no other errors have been found in the financial report and states that the
transactions are immaterial and therefore irrelevant to the users of the financial report.
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