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Write in word i don't need by your hand 3. Ahmed has been appointed as auditor of the Z- Max LLC. Mr Ahmed is requested
Write in word i don't need by your hand
3. Ahmed has been appointed as auditor of the Z- Max LLC. Mr Ahmed is requested to audit the financial statements for the year 2019. While auditing the books of accounts ,it was found that the total amount of cash received from clients is showing in the correct balances in the customers' account but in the cash book shows a less amount of cash received from client . The works of the accountant is not verified by the manager or owner of the business. While auditing the books of accounts, Mr Ahmed not followed the guidelines used by auditor while conducting and writing the audit report .The management requested Mr.Ahmed to finish the audit fast and they are willing to pay more audit fee. The management will only provide limited access to its books of accounts and not provide adequate supporting evidences or documents for verification and authenticity of the transactions. a. Do you think there was some fraud in the above statements? Justify your answer with supportive data or information b. If you are Mr Ahmed, will you accept the audit engagement? Justify your answer with complete details c. How such things can be avoided? d. Mr Ahmed didn't follow the guidelines while auditing the financial statement. Suggest the guidelines to be followed by Z-Max LLC while conducting the auditStep by Step Solution
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