In the course of audit of K Ltd., its auditor Mr. 'N' observed that there was a special audit conducted at the instance of the management on a possible suspicion of a fraud and requested for a copy of the report to enable him to report on the fraud aspects. Despite many reminders it was not provided. In absence of the special audit report, Mr. 'N' insisted that he be provided with at least a written representation in respect of fraud on/by the company. For this request also, the management remained silent. Please guide Mr. 'N'.
In the course of audit of K Ltd., its auditor Mr. 'N' observed that there was a special audit conducted at the instance of the management on a possible suspicion of a fraud and requested for a copy of the report to enable him to report on the fraud aspects. Despite many reminders it was not provided. In absence of the special audit report, Mr. 'N' insisted that he be provided with at least a written representation in respect of fraud on/by the company. For this request also, the management remained silent. Please guide Mr. 'N'.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:In the course of audit of K Ltd., its auditor Mr. 'N' observed that there was a
special audit conducted at the instance of the management on a possible
suspicion of a fraud and requested for a copy of the report to enable him to
report on the fraud aspects. Despite many reminders it was not provided. In
absence of the special audit report, Mr. 'N' insisted that he be provided with at
least a written representation in respect of fraud on/by the company. For this
request also, the management remained silent. Please guide Mr. 'N'.
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