Question
During audit of XYZ Ltd., the auditor noted that the
management concealed certain pending litigations that could affect profitability. However, the CFO insisted it was not material. The auditor suspects deliberate omission. Under SA 200 and SA 240, what should the auditor do?Solution
As per SA 240, if there is a suspicion of fraud or material misstatement, the auditor must enhance audit procedures and consider modifying or qualifying the opinion.
Each sentence has one blank. Choose the most appropriate word to make the sentence grammatically and contextually correct.
To ensure accountabi...
In the following question, two statements are given with a part missing. From the options, choose the word that can fit in the sentences to make it gra...
Directions: Complete the sentence with the appropriate word(s).
The new educational policy aims to address not only the challenges __________ ...
In Hindu mythology, when Shiva opens his third eye, it is considered a terrible warning for the cosmos.______________. In somewhat similar fashion, in ...
The artist's work is a _________ of colors and shapes, evoking a sense of wonder and curiosity.
Fill in the blank with the most appropriate word.
No wonder the burglars are at large. The police is in ______ with them.
Fill in the blank with suitable word.
The idea that technology alone can solve all of society’s problems is __________, as it ignores the com...
Select the most appropriate option to complete the sentence.
The _____________ of the storm is yet to come.
The Sun ……… water to evaporate and rise up and this ……… again as rains.
The sudden increase in fuel prices has __________ fears of inflation among economists.
