If the auditor found misstatements in financial statements resulting from fraud, the auditor encounters exceptional circumstances that bring into question his ability to continue performing the audit. the auditor shall : Ask the management for his withdrawal. Determine the professional and legal responsibilities applicable in the circumstances. Withdraw from the engagement immediately. Report to audit team regarding withdrawal.
If the auditor found misstatements in financial statements resulting from fraud, the auditor encounters exceptional circumstances that bring into question his ability to continue performing the audit. the auditor shall : Ask the management for his withdrawal. Determine the professional and legal responsibilities applicable in the circumstances. Withdraw from the engagement immediately. Report to audit team regarding withdrawal.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Which one of the following is other indicator or events or conditions that may cast significant doubt
continue as a going concern?
the entity's ability
If the auditor found misstatements in financial statements resulting from fraud, the auditor encounters exceptional
circumstances that bring into question his ability to continue performing the audit. the auditor shall :
Ask the management for his withdrawal.
Determine the professional and legal responsibilities applicable in the circumstances.
Withdraw from the engagement immediately.
Report to audit team regarding withdrawal.
If the auditor identify and assess the risk of material misstatement due to fraud or error relating entity's related activities
auditor shall:
1. Inquiry with management and others within the entity.
Auditing
EN](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb55d39d3-176f-4e8f-84fd-74435fdbf8c2%2F1df6b3c3-a7fe-4ecb-82d7-24893a49dab2%2Fcb4agx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which one of the following is other indicator or events or conditions that may cast significant doubt
continue as a going concern?
the entity's ability
If the auditor found misstatements in financial statements resulting from fraud, the auditor encounters exceptional
circumstances that bring into question his ability to continue performing the audit. the auditor shall :
Ask the management for his withdrawal.
Determine the professional and legal responsibilities applicable in the circumstances.
Withdraw from the engagement immediately.
Report to audit team regarding withdrawal.
If the auditor identify and assess the risk of material misstatement due to fraud or error relating entity's related activities
auditor shall:
1. Inquiry with management and others within the entity.
Auditing
EN
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