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Where an unusual fluctuation is indicated by analytical procedures and management is unable to provide a satisfactory explanation, the auditor must assume that there is
Where an unusual fluctuation is indicated by analytical procedures and management is unable to provide a satisfactory
explanation, the auditor must assume that there is a high probability that an error or irregularity exists.
In this case, the auditor
must:
a.
Issue either a qualified or an adverse
opinion
b.
Issue a disclaimer
c.
Issue either a qualified opinion or a disclaimer
d.
Design other appropriate audit procedures to determine if such errors do exist
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