Question: (Continued) Matter 4: Supporting Facts: Could Cooper & Co make a defence of contributory negligence? Explain your answer with reference the facts above. You are

(Continued) Matter 4: Supporting Facts: Could Cooper & Co make a

(Continued) Matter 4:

Supporting Facts:

Could Cooper & Co make a defence of contributory negligence?

Explain your answer with reference the facts above.

You are auditing the account of Cooper & Co for the year ended 30 June 2021. On the 28th of June Cooper & Co signed a contract for the part sale of some land they owned and received a 25% deposit. The balance was payable when the land subdivision was approved by the local council. The client recorded the deposit through its sales figure in its financial report, with no adjustment to Property, Plant and Equipment, and no mention of the balance owing. The auditor did not discover the land sale or its treatment by Cooper & Co, and issued an audit report with an unmodified opinion. As a result of the treatment Cooper & Co appeared to be in compliance with their banking compliance requirements and borrowed further funding. The bank has now demanded immediate repayment of these funds as Cooper & Co are actually in breach of its banking compliance requirements when the appropriate accounting treatment is applied. Cooper & Co are now looking to sue you for negligence. Outline the four (4) matters they must prove to establish negligence on your part, including how they would apply those to the facts. (8 Marks) Matter 1: Supporting Facts: Matter 2: Supporting Facts: Matter 3: Supporting Facts

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Assignment #1 Directions: Read and answer the questions below.This assignment is to be completed in two steps.Step One of the assignment is due on October 7, 2021, before class.For Step One, you are...

Providing a point-form summary for each case CASE 1 - Supreme Court ofCanada Lambert v. Lastoplex Chemicals, [1972] S.C.R. 569 Date: 1971-12-20 Edison Howard Lambert and Elizabeth Helen Lambert...

You are auditing the account of Cooper & Co for the year ended 30 June 2021. On the 28th of June Cooper & Co signed a contract for the part sale of some land they owned and received a 25% deposit....

::::::::::::::::::::::::::::::::::::::::::::: PLEASE READ THE CASE BELOW CAREFULLY TO ANSWER THE QUESTIONS ATTACHED AT THE END OF THE CASE...

Fall 2021 - BUS8330 - Global Trade Law Case Study 2 On January 1st, 2021, Mr. Patino Pascal of Waterloo decided to gift himself a New Year present and purchased a Toyota Micato SUV from the Excellent...

Chapter 38 from Business Law and the Legal Environment was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested...

LAW2485 GROUP ASSIGNMENT - SEMESTER 2 2017 GENERAL INSTRUCTIONS: 1. Due date is by 5pm of Saigon time on 18 August 2017. Please note that an assignment submitted later than the deadline will receive...

200909 Enterprise Law QUESTION: At an awards night, Simon won a prize of $25,000. In his acceptance speech he thanked the donor and expressed the wish to use the money to allow him to devote himself...

Read the case of Blake v Galloway [2004] EWCA Civ 814, [2004] 1 W.L.R. 2844 2844 Blake v Galloway (CA) 2004June16;24 [2004] 1 WLR On the defendants appeal Court of Appeal *BlakevGalloway A B C D E F...

This is a question I am working on however am stuck on it. I have attached the "referenced" chapters to help understand the question if needed. Thanks for any help. 1) The prosecution of a crime by...

Consider the functions f(x) = 2|x|- 6 and g(x) = 3^x. Find all points of intersection between the two graph.

Let the angle between the horizontal and the tension forces be denoted by 0, and 0R respectively. The final force is a damping force Fp, which is parallel to the velocity vector of the rider but...

Which of the following is not a major legal right of shareholders? To wote on changes in the corporate chater and proposals. To vote on members for the board of directors. To vote on major mergers...

5. Develop a scenario comparing two PH programs and involving the use of a CBA.

6. How did American Waters data warehouse improve operations and management decision making? American Water, founded in 1886, is the largest public water utility in the United States. Headquartered...

4. How did implementing a data warehouse help American Water move toward a more centralized organization? American Water, founded in 1886, is the largest public water utility in the United States....

6-8 Iko Instruments Group, a global supplier of measurement, analytical, and monitoring instruments and services based in the Netherlands, had a new data warehouse designed to analyze customer...