Director (Finance) of KK Ltd. informed their newly appointed statutory auditor that they have sound internal control system implemented by a renowned professional firm and he is satisfied with its effectiveness and funct
CS Executive · Company Accounts & Auditing Practices · PYQS · June 2014
Director (Finance) of KK Ltd. informed their newly appointed statutory auditor that they have sound internal control system implemented by a renowned professional firm and he is satisfied with its effectiveness and functioning. Therefore, the statutory auditor should concentrate on verifying only the routine books and financial statements. As an auditor, how would you react to the situation.
Topics: Auditing Practices
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