FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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you have recently been appointed as auditor to Johnson Plc; a company whose shares are traded on the Stock Exchange. The Directors of Johnson Plc have recommended that you perform the following services .
(i) The statutory audit of the annual financial statements.
(ii)
(a) Identify and explain the professional and ethical issues that should have been identified by your firm in relation to the provision of the services outlined above, and describe the safeguards that should be in place in order to address these issues. (including Citations/references)
(b) What are the fundamental principles of ethics? Briefly explain their meaning (including Citations/references)
(c) A client’s affairs should not be disclosed to third parties. However where a client has been guilty of an unlawful act, to whom should the auditor disclose this, and in what order?(including Citations/references)
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