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- If he destroys any document, vouchers books e.t.c with a view to deceive any person.
- If he makes a false statement either in the Balance sheet, or any document. Vouchers or document with the view of deceiving another party.
- Where the auditor colludes with management to embezzle the client company money.
Wilfykil answered the question on February 22, 2019 at 12:02
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(i) Except for opinion.
(ii) Disclaimer of opinion(Solved)
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(ii) Disclaimer of opinion
Date posted: February 22, 2019. Answers (1)
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Date posted: February 22, 2019. Answers (1)
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Date posted: February 22, 2019. Answers (1)
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(ii) State and briefly explain the objectives of an audit peer review(Solved)
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(ii) State and briefly explain the objectives of an audit peer review
Date posted: February 22, 2019. Answers (1)
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Date posted: February 22, 2019. Answers (1)
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Date posted: February 22, 2019. Answers (1)
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Bafu Ltd., a private limited company, manufactures a wide range of bathroom fittings. These fittings are made from steel components which are chromed in small vats. The steel components are sourced from outside suppliers. The year end stock mainly consists of these steel components and finished items. As at 31 October 2004, the total stock was valued at Sh. 6,048,000 out of total assets of Sh. 19,200,000. This stock figure was obtained by a physical count as at 31 October 2004, and valuation by reference to purchase invoices and manufacturing cost estimates.
Required:
With reference to each of the matters listed below, state the work you would do to conclude whether the amount attributed to stock is fairly stated.
(a) Quantities
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(d) Cut-off procedures
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Date posted: February 22, 2019. Answers (1)
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