untry which can boast of large landed properties. DreamCash & Co. receives about 20% of its income from this particular client. Before last year’s audit, the bank engaged the audit firm to value its land and buildings in all its branches and headquarters. This work was executed by the audit firm and a report has been issued to management. The report has been incorporated in this year’s financial statements to be audited soon. DreamCash & Co. sees DellMax Bank Ltd. as a very important client whose works are always executed with dispatch. Required: 1. Identify and evaluate the significance of any threats to the Code of Ethics for Professional Accountants raised in the case. 2. Recommend safeguards to eliminate the threats (mentioned in (i) above) or reduce them to an acceptable level.
DreamCash & Co., an
Required:
1. Identify and evaluate the significance of any threats to the Code of Ethics for Professional Accountants raised in the case.
2. Recommend safeguards to eliminate the threats (mentioned in (i) above) or reduce them to an acceptable level.
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