Novosibirsk Energy, a private oil transport company covering the south of Russia is being audited by the
Question:
Novosibirsk Energy, a private oil transport company covering the south of Russia is being audited by the public accounting firm of Berezinets, Frolova and Kuter (BFK). During their sampling of oil shipments, BFK found a material misstatement. What procedures should BFK undertake to determine total misstatement and communicate to management and those charged with governance?
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BFK must accumulate misstatements identified during the audit other than those that are clearly trivial Findings during the audit may require BFK to c...View the full answer
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Related Book For 
Principles of Auditing An Introduction to International Standards on Auditing
ISBN: 978-0273768173
3rd edition
Authors: Rick Hayes, Philip Wallage, Hans Gortemaker
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