Below are excerpts from the independent auditors' report to the members of Tesco PLC. Explain why...
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Below are excerpts from the independent auditors' report to the members of Tesco PLC. Explain why each of the following phrases or clauses is used rather than the alternative provided: a. "In our opinion, financial statements of Tesco PLC's parent company give a true and lair view of the state of the parent company's affairs as at 28 February 2015" rather than "in our opinion, financial statements of Tesco PLC's parent company give an accurate view o the state of the parent company's affairs as at 28 February 2015." The financial reporting framework that has been applied in the preparation of the Gnancial statements is applicable to the law and United Kingdom Accounting Standards" rather than "The financial reporting framework that has been applied in the naration of the financial statements is International Financial Reporting Standards." CAn audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial state- ments are free from material misstatement, hether caused by fraud or error" rather than "An audit involves checking to identify an instances of fraud or error." 4. PricewaterhouseCoopers LLP dated their report on 5 May 2015 rather than 28 February 2015, which was when the company's financial year ended. e. "Mark Gill (Senior Statutory Auditor) for and on behalf of PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors" rather than just "Mark Gill". Below are excerpts from the independent auditors' report to the members of Tesco PLC. Explain why each of the following phrases or clauses is used rather than the alternative provided: a. "In our opinion, financial statements of Tesco PLC's parent company give a true and lair view of the state of the parent company's affairs as at 28 February 2015" rather than "in our opinion, financial statements of Tesco PLC's parent company give an accurate view o the state of the parent company's affairs as at 28 February 2015." The financial reporting framework that has been applied in the preparation of the Gnancial statements is applicable to the law and United Kingdom Accounting Standards" rather than "The financial reporting framework that has been applied in the naration of the financial statements is International Financial Reporting Standards." CAn audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial state- ments are free from material misstatement, hether caused by fraud or error" rather than "An audit involves checking to identify an instances of fraud or error." 4. PricewaterhouseCoopers LLP dated their report on 5 May 2015 rather than 28 February 2015, which was when the company's financial year ended. e. "Mark Gill (Senior Statutory Auditor) for and on behalf of PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors" rather than just "Mark Gill".
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