In cases where an auditor discovers shady or illegal practices done by the client, the following are the actions that can be done by the auditor except one. Which one is this?Group of answer choicesblow the whistleissue a regular reportissue a modified or qualified reportwithdraw from the engagement

What action should the auditor take if the client refuses to meet and discuss issues related to the appropriateness of previously issued financial statements covered by the predecessor’s report?Option     Proceed with the audit and express an opinion on the financial statements.     Consider the risks of being the entity’s auditor and possibly withdraw from the engagement.     File a legal complaint against the client.     Immediately withdraw from the audit engagement.

Which of the following is usually included or shown in the auditor's working papers?Select one:a.The procedures used by the auditor to verify the personal financial status of members of the client's management teamb.Analyses that are designed to be a part of, or a substitute for, the client's accounting recordsc.The manner in which exceptions and unusual matters disclosed by the auditor's procedures were resolved or treatedd.Excerpts from authoritative pronouncements that support the underlying generally accepted accounting principles used in preparing the financial statements

audit procedures

For the following independent and material situations, assume you are the audit partner on different engagements.  For each situation, analyse and explain how the situation would affect your audit report. (A)  A former IT staff of the audit client accidentally deleted a lot of accounting data and there was no backup copy of the data. (2.5 marks)  (B)  The auditor thinks the audit client has over-valued its land and buildings. The audit client refuses to make corrections. (3 marks)(C)  The audit client has issued a new version of the annual report due to several subsequent events. (0.5 mark)(D)  Your audit client has reported a substantial loss this year due to rising costs and strong competition. There are also concerns about the audit client's ability to pay its current liabilities. The audit client's managers are negotiating with banks to raise additional funding to help cover the cash flow shortage. After evaluating the audit client’s situation, you believe the going concern assumption is still appropriate. How does this affect your audit report? (4 marks)

How can suspected cases of fraud be reported?Sélectionnez toutes les réponses applicablesThrough the Speak Up! whistleblowing portalTo LM or Head of Regulatory ComplianceSuspicions must be backed by evidence of fraud