Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

:15. Audit Opinions You are auditing Duong Ltd {DL} for the year ended athjune 2020. BL is a supplier of technology equipment, and you have

image text in transcribed
image text in transcribed
:15. Audit Opinions You are auditing Duong Ltd {DL} for the year ended athjune 2020. BL is a supplier of technology equipment, and you have identified a material misstatement in the inventory account. DL has not written a now obsolete product range down to the lower of cost and net realisahle value as required by Australian Accounting standards. Furthermore, in the Chairman's Report it states the company has experienced a 5 per cent growth in market share over the past 12 months. This is inconsistent with your understanding of the business, and when you request a change be made to the Chairman's Report, management disagrees. Reguired: Using the Framework for Audit Opinions studied in this unit, explain the most appropriate auditor's opinion for DL for the year ended 30th June ZDZD. Justify all aspects of your response

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Carl Warren

14th Edition

1337516147, 978-1337270595

More Books

Students also viewed these Accounting questions

Question

Write 3 + 4i / 1 - i in standard form.

Answered: 1 week ago

Question

Alcohol and drug use among student athletes

Answered: 1 week ago

Question

Define line and staff authority

Answered: 1 week ago

Question

Define the process of communication

Answered: 1 week ago

Question

Explain the importance of effective communication

Answered: 1 week ago

Question

* What is the importance of soil testing in civil engineering?

Answered: 1 week ago

Question

Behaviour: What am I doing?

Answered: 1 week ago