Question
Johan is an audit partner that responsible for audit financial statements of Baiduri Berhad for the financial year end 31 December 2020. The audit is
Johan is an audit partner that responsible for audit financial statements of Baiduri Berhad for the financial year end 31 December 2020. The audit is now at the completion stage and he is now reviewing significant accounting issues differences opinion on accounting estimates related to carrying amount of investment and inventory valuations that still unresolved with the management. Johan decided to discuss the issues with the audit committee. Recognizing the importance of effective two-way communication in an audit of financial statements, International Standard on Auditing (ISA) 260 provides an overarching framework for the external auditors communication with those charged with governance, and identifies some specific matters to be communicated with them Identify matters to be communicated by external auditors to the audit committee at planning and completion stage of an audit.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started