Minker expresses an unqualified opinion concerning the financial statements of the Zee Company, in which statements the
Question:
Minker expresses an unqualified opinion concerning the financial statements of the Zee Company, in which statements the basis of valuation of the fixed assets is not shown. She is aware of the fact that the fixed assets are valued on the statements at appraisal value, which is substantially above cost. She feels it is not her duty to divulge this information as long as she does not state any basis for the fixed assets. Is she correct?
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No Minker is not correct in this situation As an auditor Minker has a duty to report any material misstatements or departures from generally accepted ...View the full answer
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Related Book For 
Auditing Concepts And Methods A Guide To Current Auditing Theory And Practice
ISBN: 9780070099999
5th Edition
Authors: Mcgraw-Hill
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