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Auditing question: What are the risks of a farm company having 10 subsidiaries across the country, each farm property is roughly equal in size and
Auditing question: What are the risks of a farm company having 10 subsidiaries across the country, each farm property is roughly equal in size and value, and each farm is regarded as aseparate cost centrethat produces its own set of financial statements that are thenconsolidatedinto a final annual report?Each farm has one manager, who has delegated responsibility for all decisions related to their farm. Explain the possible risks and why? Refer to account or assertions. How audit will respond to the risk?
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