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

New! BPP Books for ACCA September 2022 Exams are now available, get your discount code >>

Ext Audit

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA BT – FIA FBT › Ext Audit

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Ken Garrett.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • May 25, 2021 at 12:16 pm #621739
    ketki15
    • Topics: 60
    • Replies: 15
    • ☆☆

    If an external auditor in the process of considering the company’s financial statements came across an incident of fraud that took place in the year, he/she must
    a- qualify the accounts regardless of the size of the fraud
    b- report to the shareholders by the way of a note to the accounts, regardless of the size of the fraud
    c- qualify the accounts only if the fraud is material and not properly recorded in the accounts
    d- report to the shareholders by a note to accounts, but only if fraud is material

    why is the correct ans C? why would the auditor qualify the accounts if there is a fraud?

    May 25, 2021 at 4:43 pm #621756
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 9975
    • ☆☆☆☆☆

    c qualify the accounts only if the fraud is material and not properly recorded in the accounts

    For audit qualifications to occur, the misstatement has to be material. Here is it has not been properly recorded in the FS so they are materially wrong.

  • 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

Donate

If you have benefited from OpenTuition please donate.

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • Alistair02 on MA Chapter 1 Questions Accounting for Management
  • AymanR7 on Practice Question Klopp
  • Kyle on Translation of the subsidiary – ACCA (SBR) lectures
  • John Moffat on Discounting, Annuities, Perpetuities – ACCA Management Accounting (MA)
  • Joanne94 on Discounting, Annuities, Perpetuities – ACCA Management Accounting (MA)

Copyright © 2022 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy