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I am reading the P7 Examiner’s report for September 2017 question 3 and I came across this statement:
“Part (b) of this question addressed ethical issues which would arise if the firm was to attend a meeting with the bank regarding financing for this acquisition and this requirement was well answered with well-prepared candidates being able to recognise advocacy and intimidation threats.”
May you assist by explaining how intimidation threat comes in. I am fine with advocacy threat.
Without access to the question, this response is, to a great degree, batting blind
However, here goes:
When asked to represent a client at a meeting with, say, a bank, the auditor is well aware of the possibility that, if they refuse to attend the meeting, the client could well dispense with the auditor’s services
It is almost implicit within the request for the auditor to attend … “Can you be present at the meeting with the bank to support our claim? If you can’t attend, we’ll find another firm that IS willing to represent our interests”
Is that OK for you?
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