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Q4(a) Fernwood Co / Carter & Co
“The valuation of the pension balance recognised is likely to involve many judgments and assumptions, and so is likely to be a subjective exercise. It is, therefore, most likely that Carter & Co will assess the situation as creating a signifi cant self-reviewthreat which safeguards cannot reduce to an acceptable level, in which case the valuation service should not be provided as well as carrying out the audit ”
1.Why audit cannot be provide ,if the valuation service does not provide?
The auditor audits the net liability/(asset) – management must measure it.
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