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Hi, Kim
hope are well.Am a little bit confused with the difference between evidence and procedure.
Another question.
What would be an appropriate action if we see for example finance detector concealing information or behaving unethically or limiting the scope of the audit.
thanks in advance.
For the first query please see this discussion https://opentuition.com/topic/audit-evidence-29 (sorry it’s a bit long winded).
Actions for your other scenario might be …
Discuss (with audit partner if you are the audit manager, or the firm’s ethics partner if you are the engagment partner) …
Discuss with client (or “Advise … ” if looking for a different verb) at a higher level than the FD – e.g. CEO or TCWG … to explain the consequences (e.g. modification of audit opinion or resignation from the audit)
Report to the firm’s MLRO (in the case of suspected money laundering) …
Consult/seek advice from the firm’s professional body (e.g. ACCA) …
If all else fails and permitted in law, resign.
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