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Good dayPlease help me with the solution of this question. 1. Step-wise Ltd. a company based in Accra, without consulting its Chartered Accountant (CA), has

Good dayPlease help me with the solution of this question.

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1. Step-wise Ltd. a company based in Accra, without consulting its Chartered Accountant (CA), has changed its accounting so that it is not in accordance with international accounting principles (IASs). During the regular audit engagement the CA discovered that the statements based on the accounts were so grossly misleading that they might be considered fraudulent. Required: 21 Discuss the specic action to be taken by the CA. (3 marks) b What type of opinion would the CA issue? Why? (4 marks) (2 In this situation What obligation does the CA have to a new auditor if he is replaced? Discuss briey. (4 marks) 2. What is the effect on the auditor's report of a lawyer's refusal to furnish the information requested in the letter of audit inquiry? (6 marks) 3. You have been asked by the board of trustees of a local church to review its accounting procedures. As part of this review you have prepared the following comments about the collections made at weekly services and record keeping for members\" pledges and contributions: a The church's board of trustees has delegated responsibility for nancial management and audit of the nancial records to the nance committee. This group prepares the annual budget and approves major cash disbursements but is not involved in collections or record keeping. No audit has been considered necessary in recent years because the same trusted employee has kept church records and served as nancial secretary for 12 years. b The collection at the weekly service is taken by a team of ushers. The head usher counts the collection in the church ofce after each service. She then places the collection and a notation of the amount in the church safe. Required: Identify the deciencies and recommend improvements in procedures for collection made at weekly services and record keeping for members' pledges and contributions. (8 marks)

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