ABC Bank approached Ali & Co., Chartered accountants for the annual audit of their financial statements. Ali & Co., have no prior experience of audits of banks and have been primarily involved in the audit of pharma companies. If Ali & Co. accepts the audit engagement of ABC Bank, identify which fundamental principle may be compromised and reason thereof.

Answer rating: 100% (QA)

ANS WER If Ali Co accepts the audit engagement of ABC Bank the pri... View the full answer