Unformatted text preview: 23. 24. 25. In the article, "Going Global", the author explains that: (a) International financial accounting standards will be
adopted in Canada. (b) a more flexible regime (of GAAP) for private companies
and not- for- ~profit organizations will be adopted.
(c) the converging of Canadian GAAP with US GAAP will be abandoned.
@all of the above. If the auditor assesses the risk of illegal acts for an entity
to be low, the following audit procedures would normally be u rtaken:
‘ip substantive procedures designed specifically to detect
illegal acts. (b) tests of controls of the system for monitoring illegal
acts. (c) enquiry procedures and a management representation.
(d) all of the above The auditor's responsibility for accounting estimates is
normally to: (a) prepare accounting estimates based on economic
conditions. (b) consider accounting estimates in the context of the
financial statements as a whole. (c) consult with a specialist to be able for audit accounting Astimates.
.551) and (b) only. ...
View Full Document
- Spring '10