june 2012 Q3(B)

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September 7, 2013 at 3:50 pm #140035
aishaasad
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Hello Sir,
In reference to june 2012 Q3 (b), I want to clear this out whether an auditor can prepare a financial statement for the audit client not listed on stock exchange? and in which circumstances the auditor is allowed to prepare financial statement without being a threat to objectivity and independence?
Thanks in advance
September 12, 2013 at 7:51 pm #140381
Ken Garrett
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The ACCA model answer addresses this perfectly. The key is to use separate teams for preparation of the FS and the audit of the FS.
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