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Explain the responsibility of group engagement partner

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Reference no: EM132598291

Question - Digital Valley Sdn Bhd (DVSB), a software developer, is one of the subsidiaries of Technopro Bhd (TPB). In the course of consolidating the group accounts, it was noted the financial statement of DVSB was qualified due to inappropriate evidence obtained in relation to company's accounts receivable. The auditors were not able to verify the balance of account receivable of DVSB's as they do not give full cooperation from the management of DVSB. The account receivable makes up 30% of the company's current assets. Due to poor documentation of audit working paper prepared by DVSB's auditor, the principal auditor was unable to verify the percentage of misstatement related to account receivable.

Required -

i. Explain the responsibility of group engagement partner in relation to group accounts.

ii. Explain the audit procedures that are required to be performed by the group engagement partner in order to address the above issues.

Reference no: EM132598291

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