• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • FIA Forums
  • CIMA Forums
  • OBU Forums
  • Qualified Members forum
  • Buy/Sell Books
  • All Forums
  • Latest Topics

Save 20% on ACCA & CIMA Books

Interactive BPP books for June 2026 exams, recommended by OpenTuition.
Get discount code >>

Effect of an unauthorized transaction to audit

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Effect of an unauthorized transaction to audit

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by AvatarKen Garrett.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • May 21, 2015 at 3:04 pm #247686
    AvatarBinh
    Member
    • Topics: 41
    • Replies: 77
    • ☆☆

    Dear Mr. Gromit,

    If a transaction, say, a purchase of non-current asset which is perfect in all matters except it was not authorized properly by suitable management level as required by internal policies of the entity, so what is the effect of this transaction to our audit? Could I consider it just is a deficiency of internal control and include it in management letter only?

    May 21, 2015 at 5:28 pm #247741
    AvatarKen Garrett
    Keymaster
    • Topics: 10
    • Replies: 10659
    • ☆☆☆☆☆

    Almost certainly that is correct. Even if the transaction were fraudulent, as opposed to not having been properly authorised, it would only affect the audit report if the effect were material.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE Exams – Instant Poll

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • Princessss on AA Chapter 12 Questions
  • Arjunmullacheri on Introduction to Financial Accounting – ACCA Financial Accounting (FA) lectures
  • Bongi on Introduction to Working Capital – CIMA F1 Financial Reporting
  • AKareem on ACCA TX-UK FA2025 Chapter 14 Capital Gains Tax – Individuals – Reliefs
  • Breadtoast67 on Diversification – ACCA Strategic Business Leader (SBL)

Copyright © 2026 · Contact · Advertising · OpenLicense · About · Sitemap · Privacy Policy · Cookie settings · Comments · Log in