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Hello Mike
I’m reading an ACCA article here on related party and it mentions the following regarding risk of material misstatement:
“Risks about the ability of the company to continue in business as a going concern – if the entity’s interest is constantly subordinated to that of related parties. ”
What exactly is meant by “entity’s interest” and why is it a risk?
The article can be found here:
https://www.accaglobal.com/us/en/discover/cpd-articles/audit-assurance/related-parties15.html
Its one of the points under Higher Risk.
Regards
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