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How should Andy respond to this offer?

How should Andy respond to this offer?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Help for learning activity 2 only. How should Andy respond to this offer?

Learning Activity 1 Cynthia, a CPA, makes the following comment: "The audit process is all about gathering evidence. A key part of the process is to gather evidence efficiently and effectively." What exactly does Cynthia mean by such comment? Learning Activity 2 Andy Torres, CPA, is in charge of the audit of Asean Sports, Inc. Eight young members of the public accounting firm's professional staff are working with Andy on this engagement, and several of the young auditors are avid swimmers. Asean owns 2 condo units in BGC area, which it uses primarily to entertain clients. The controller of Asean has told Andy that he and any of his audit staff are welcome to use the units at no charge any time that they are not in use. How should Andy respond to this offer? Explain.
Transcribed Image Text:Learning Activity 1 Cynthia, a CPA, makes the following comment: "The audit process is all about gathering evidence. A key part of the process is to gather evidence efficiently and effectively." What exactly does Cynthia mean by such comment? Learning Activity 2 Andy Torres, CPA, is in charge of the audit of Asean Sports, Inc. Eight young members of the public accounting firm's professional staff are working with Andy on this engagement, and several of the young auditors are avid swimmers. Asean owns 2 condo units in BGC area, which it uses primarily to entertain clients. The controller of Asean has told Andy that he and any of his audit staff are welcome to use the units at no charge any time that they are not in use. How should Andy respond to this offer? Explain.
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