When gaining an understanding of the clients sources of financing, the auditor: (a) Is not interested in
Question:
When gaining an understanding of the client’s sources of financing, the auditor:
(a) Is not interested in debt covenants because all debt contracts are the same.
(b) Will assess if the client is meeting interest payments when they are due.
(c) Will ignore the relative reliance on debt versus equity funding because that is a management decision, not an audit issue.
(d) None of the above.
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Related Book For
Auditing A Practical Approach
ISBN: 978-1118849415
2nd Canadian edition
Authors: Fiona Campbell, Robyn Moroney, Jane Hamilton, Valerie Warren
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