Question: Please help to fill out Additional Information Needed column with the choices. The left two columns are correct. For the following independent situations, assume that
Please help to fill out "Additional Information Needed" column with the choices. The left two columns are correct.
For the following independent situations, assume that you are the audit partner on the engagement: (Click the icon to view the situations.) Read the requirements. Requirements a. and b. Identify which of the conditions requiring a deviation from a standard unmodified opinion audit report is applicable, if any. Then, state the level of materiality as immaterial, material, or highly material. If you cannot decide the level of materiality, state the additional information needed to make a decision. (If a box is not used in the table leave the box empty, do not select a label.) (a) (b) (b) Additional Condition Information Needed Materiality Level Not applicable 1 No conditions are applicable 2 Substantial doubt about going concern Material 3. No conditions are applicable Material 4 Failure to follow GAAP Highly material or material Highly material 5 Scope of the audit has been restricted 6. Lack of independence Not applicable Amount of loss Auditor's judgement Client imposed limit Size of materiality Etext pages Calculator Clear all Check
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