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Flagpole Company Limited recently upgraded its accounting software due to changes in the payroll income tax rates. Unfortunately, there was an error in the software,
Flagpole Company Limited recently upgraded its accounting software due to changes in the payroll income tax rates. Unfortunately, there was an error in the software, and income tax was calculated incorrectly. The general transaction-related audit objective affected by this error is O a occurrence O b. posting and summarization. Oc accuracy O d. completeness Marianne is currently performing tests of controls on the presence of an employee code of conduct, the presence of a whistle-blower line, and on how management responded to complaints and implemented systematic penalties for instances where violations of the code of conduct existed. Marianne is currently evaluating the O a client acceptance. O b. industry and business environment. Oc entity-level controls. O d. risk of fraud. Amin is distraught. Six months ago, a big-box stereo store opened just down the street from his independent stereo and music business and now he is unable to continue operating his business. Only eight months ago, you issued an unqualified audit opinion on his financial statements that showed the financial results of a well-run, profitable store. Amin's business is experiencing O a business failure. O b. fiduciary duty. Oc. customer expectation gap. O d. audit failure
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