For audits of financial institutions, auditors have a well-being reporting requirement. List four matters that must be reported under federal institutions legislation.
What will be an ideal response?
Examples of reportable conditions include any four of the following:
i. Significant weaknesses in internal control.
ii. Going concern uncertainties that require disclosure or change in accounting basis.
iii. Reservations in the audit opinion.
iv. Indicators of a lack of good faith by management.
v. Contraventions of legislated capital requirements.
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When an investor uses the equity method to account for investments in common stock, cash dividends received by the investor from the investee should be recorded as
a. an increase in the investment account. b. a deduction from the investment account. c. dividend revenue. d. a deduction from the investor's share of the investee's profits.
Unsolicited application messages:?
A) ?decrease the efficiency of the job selection process for a company and an applicant. B) ?have lesser need for attention-getters. C) ?have a specific opening paragraph targeted to a specific position. D) ?increase a person's chances of locating potential openings.
______ is a document that describes the sequence of different operations, places, or people involved in a process.
a. An assembly chart b. An assembly drawing c. A route sheet d. A process chart
Corbin, a partner in Dentists & Orthodontists Clinic, applies for a loan with Evermore Bank allegedly on the firm's behalf but without the authorization of the other partners. Evermore knows that Corbin is not authorized to take out the loan. If Corbin defaults on the loan, liability for its unpaid amount will be imposed on
a. Corbin and Doctors, jointly. b. Corbin only. c. Doctors only. d. Evermore only.