During the performance of risk assessment procedures, Andoy, CPA, noted a change in accounting principle has been effected by the client. In this case, Andoy should plan to evaluate the change to satisfy himself that: The newly adopted principle is a generally accepted accounting principle The method of accounting for the effects of the change is in conformity with generally accepted accounting principles Management's justification for the change is reasonable All of the answers
During the performance of risk assessment procedures, Andoy, CPA, noted a change in accounting principle has been effected by the client. In this case, Andoy should plan to evaluate the change to satisfy himself that: The newly adopted principle is a generally accepted accounting principle The method of accounting for the effects of the change is in conformity with generally accepted accounting principles Management's justification for the change is reasonable All of the answers
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![During the performance of risk assessment procedures, Andoy, CPA, noted a
change in accounting principle has been effected by the client. In this case,
Andoy should plan to evaluate the change to satisfy himself that:
The newly adopted principle is a generally accepted accounting principle
The method of accounting for the effects of the change is in conformity with generally
accepted accounting principles
Management's justification for the change is reasonable
All of the answers](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F50c32c32-a19a-46b9-80f4-82d852d66e00%2F2cd99c45-ee78-4b58-a3cb-246d5d019c3e%2Frhslson_processed.png&w=3840&q=75)
Transcribed Image Text:During the performance of risk assessment procedures, Andoy, CPA, noted a
change in accounting principle has been effected by the client. In this case,
Andoy should plan to evaluate the change to satisfy himself that:
The newly adopted principle is a generally accepted accounting principle
The method of accounting for the effects of the change is in conformity with generally
accepted accounting principles
Management's justification for the change is reasonable
All of the answers
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