Indicate whether you agree or disagree with the following statements and explain your reasoning.
a) Mathew Punkinnen, the senior auditor at Jackson & Wartkauf LLP made the following statement to his audit team: "What constitutes sufficient appropriate audit evidence is a matter of judgment."
b) Ingram Foods Company operates as a specialty food distributor. Philippe Parenteaux, auditor, has told his staff that the bankruptcy of a customer at year-end should not be considered a type 1 event.
c) Manitoba Ice Dogs auditor Henry Pilon found an omission of a disclosure in the financial statements of the hockey team. He called this an error.
d) Janice Olympus was told by the client that a limitation in the scope of his work would require a modification to the audit report.

Question

Quizplus · Accepted Answer

The Answer of Indicate whether you agree or disagree with the following statements and explain your reasoning.
a) Mathew Punkinnen, the senior auditor at Jackson & Wartkauf LLP made the following statement to his audit team: "What constitutes sufficient appropriate audit evidence is a matter of judgment."
b) Ingram Foods Company operates as a specialty food distributor. Philippe Parenteaux, auditor, has told his staff that the bankruptcy of a customer at year-end should not be considered a type 1 event.
c) Manitoba Ice Dogs auditor Henry Pilon found an omission of a disclosure in the financial statements of the hockey team. He called this an error.
d) Janice Olympus was told by the client that a limitation in the scope of his work would require a modification to the audit report.

Indicate Whether You Agree or Disagree with the Following Statements