Question: You are the audit manager responsible for a recurring audit engagement. As a result of the planning procedures recently completed for the upcoming year's audit

You are the audit manager responsible for a recurring audit engagement.

You are the audit manager responsible for a recurring audit engagement. As a result of the planning procedures recently completed for the upcoming year's audit assignment, you became aware that the company purchased goods from a supplier that may be

related to a director of the company.

Discussion

.

What factors may cause you to believe that the purchases were made from a related party?

.

What would you do if you concluded that the purchases were made from a related party?

.

What would you do so as to ensure completeness of related party transactions?

As a result of the planning procedures recently completed for the upcoming

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