- 20 Marks
AA – Nov 2021 – L2 – Q4 – Professional Ethics and Code of Conduct for Auditors (IESBA Code)
Discuss the implications of supplying bank transaction information and the principles guiding accountants.
Question
Your firm audits Sabona Limited, a privately owned company, which is a customer of Oldie Limited, another privately owned client company. The managing director of Oldie Limited has asked your firm to supply Sabona Limited bank transactions for the last six months as they are concerned about their ability to honour their financial obligation.
Required:
a. State whether or not you would supply this information and the reasons for your actions. (5 Marks)
b. Explain briefly FIVE fundamental principles issued by the Institute of Chartered Accountants of Nigeria (ICAN) as guides to accountants. (10 Marks)
c. Describe FIVE matters that could affect the independence and integrity of the auditor. (5 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Auditor Independence, Bank Transactions, Ethical Principles, ICAN Guidelines
- Level: Level 2
- Topic: Professional Ethics and Code of Conduct for Auditors
- Series: NOV 2021
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