communication with audit committee

Project Description:

during your review of the revenue accounts at piper & pepper inc.,p&p a public company, you enquired of management about sales to customer account 04-1125. the account accumulates sales to a related company. the president of p&p explained that the sales are at very favourable terms to p&p; in fact, the related company pays more than market value for the items it purchases from p&p. because of p&p’s tax credits, the overall tax payable for the 2 companies is smaller if the revenue (and the income) is reported in p&p. this provides the related company with higher expenses, which also lowers its taxable income.


clearly identify and explain the matters that should be communicated to the audit committee.
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Project Stats: Edited

Price Type: Fixed

Project Budget: $0 to $10
Total Proposals: 12
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