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7 Question 1 The Company Audit – I (a) An auditor purchased goods worth ` 501,500 on credit from a company being audited by him. The company allowed him one month’s credit, which it normally allowed to all known customers. (b) An auditor became aware of a matter regarding a company, only after he had issued his audit opinion. Had he become aware of the same prior to his issuing the audit report, he would have issued a different opinion. Answer (a) Purchase of goods on credit by the auditor: Section 141(3)(d)(ii) of the Comp