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hello,
i wanted to ask abt december 2014 Question !…
in that, firstly internally generated brand name can also be a risk of material statement right? according to ias 38 ,prohibited to recognise itand the other question is …
in the ethics section, promoting client in terms of securing a loan from the bank …
isnt that also an advocacy threat ??the answer says its an financial threat only
Which is the internally generated brand? The development expenditure incurred in the course of developing drugs is correctly capitalised
The brand name “Cold Comforts” was acquired / bought and is correctly capitalised
I don’t see your problem
As for advocacy, the answer states financial interest as well as self-interest. Yes, you could include advocacy too.
Ok?
Thankyou Sir
Yes, I understand nowBut please can you explain how is it a financial interest for the audit firm to provide guarantee on audit clients behave ?
If that guarantee gets called in by the bank because the client cannot afford to pay the bank, then the guarantor (us!) will have to pay it
How much more do you need for it to be a financial interest?
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