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Three party relationship.

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Three party relationship.

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by Ken Garrett.
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  • April 27, 2018 at 8:27 am #449053
    asifmangal
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    Practitioner: for example an auditor. The practitioner is responsible for determining the
    nature, timing and extent of procedures and is required to pursue anything that leads
    the practitioner to question whether a material modification should be made to the
    subject matter information.

    In this statement please explain “material modification”

    April 27, 2018 at 1:53 pm #449075
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10595
    • ☆☆☆☆☆

    If the FS are materially wrong then the practitioner will request that the FS are modified to make them right. Ifmthe client does not make the change, the audit report will point out the problem.

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