Before 2011, CICA Handbook, paragraph 5510.53, provided guidance for audit

Before 2011, CICA Handbook, paragraph 5510.53, provided guidance for audit reporting when there is a going-concern problem.

Required:
a. Critique the audit reporting required by paragraph 5510.53 from the perspective of a financial statement user who owns shares of the auditee company.
b. Assume the role of the company’s auditor. How would you respond to the criticisms raised in (a)?

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