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Can we write these actions in relation to question asking for recommend actions in respect of non-compliance with laws and regulations–
1. The auditor should request that management adjusts the financial statements
2.
If management refuses to adjust the financial statements, the
auditor should communicate the
misstatements to those charged with governance.
3.
They should repeat the request and inform them of the modifications that would be made to the auditor’s
report if the adjustments are not made.
4. If management still refuses to amend the financial statements, the auditor should request a written
representation from management confirming their intent to proceed without amending the financial
statements and that they are aware of the potential consequences.I’m afraid I can’t advise on what to write as it becomes “too blurry” with marking answers and this isn’t something OpenTuition can offer
There are no “one-size-fits-all” answers for AAA – it would always depend on the circumstances/scenario given.
This article is relevant to NOCLAR http://www.accaglobal.com/pk/en/student/exam-support-resources/fundamentals-exams-study-resources/f8/technical-articles/laws-and-regulations.html
There is a short lecture here https://opentuition.com/acca/aaa/acca-aaa-responding-non-compliance-laws-regulations-noclar
If you want more technical information, the pronouncement can be downloaded here https://www.ifac.org/system/files/publications/files/IESBA-Responding-to-NOCLAR-Pronouncement.pdf
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