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Jlenok [28]
3 years ago
7

What factors might have caused the auditor to inappropriately accept the assertions by management that the vendor allowances sho

uld be reflected in the financial statements?
Business
1 answer:
Korvikt [17]3 years ago
6 0
Auditors may be inclined to accept client representations because of a natural bias to want <span>to trust the client.
Before doing the auditing process, auditor usually receive a small briefing from the management team on the financial system that they use in recording their transactions. </span>If these allowances had been used in the past the auditor<span> may have been inclined to accept them as regular business practices</span>
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