For this milestone assignment, you will be using what you have learned in Module Two to As part of the Bonlat "Parmalat Financial's Center" audit, Grant Thornton, received a confirmation on Bank of America letterhead from Parmalat confirming the existence of 4.2 billion Euros in an account for Bonlat. Bank of America later declared the confirmation a forgery. Investigators believe that the confirmation was forged with the use of scanners by Parmalat finance officers.

Required:

What are your thoughts on professional skepticism and an auditor's objectivity as it was applied to the audit of Parmalat's Cash?

Answer rating: 100% (QA)

Audit The government requires organizations to disclose their actual financial position Otherwise the company can be charged in court for noncompliance or fraud For this purpose an audit is conducted ... View the full answer