2. You have almost completed an audit when your audit manager pointed to the discovery of...

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2. You have almost completed an audit when your audit manager pointed to the discovery of a material and unusual transaction. The transaction is the sale of treasury stock to the Managing Director of your client's subsidiary of 200,000 shares with market value of $4,000,000.00. This incident when you were about to issue an unqualified opinion. Required: What actions should you take as an Auditor? List the very steps you must take to satisfy yourself about this matter. 2. You have almost completed an audit when your audit manager pointed to the discovery of a material and unusual transaction. The transaction is the sale of treasury stock to the Managing Director of your client's subsidiary of 200,000 shares with market value of $4,000,000.00. This incident when you were about to issue an unqualified opinion. Required: What actions should you take as an Auditor? List the very steps you must take to satisfy yourself about this matter.

Answer rating: 100% (QA)

As an Auditors following step should be done Ask the client ... View the full answer