User Account

All Pages

What type of audit report should issue

Assignment Help Accounting Basics
Reference no: EM132766003

Problem 1: Pelegin Ltd has a major subsidiary in Spain. As your audit firm does not have an office in Spain, you have used the Spanish audit firm Garcia and Navas as a component auditor for the subsidiary. During the audit, Gracia and Navas had its accreditation revoked by the Spanish corporate regulator and they are no longer legally able to provide audit services. There is no time to appoint a new component auditor and your own staff are not able to conduct the audit of the Spanish subsidiary, due to legal restrictions and language difficulties. What type of audit report should you issue?

Reference no: EM132766003

Questions Cloud

What are three categories of funds prescribed by gasb : What are the 3 categories of funds prescribed by GASB standards and which fund types are included in each? Which basis of accounting is used
What income statement accounts will be affected : What income statement accounts will be affected in preparing the consolidated financial statements? What will be the effect on income assigned
What is jillian perkins incentive to commit the fraud : What is the key account and assertion that is most at risk of misstatement as a result of this fraud? What is Jillian Perkins' incentive to commit the fraud?
Compute the amount of interest costs capitalized each year : Compute the amount of interest costs capitalized each year. Alta Company is constructing a production complex that qualifies for interest capitalization.
What type of audit report should issue : Pelegin Ltd has a major subsidiary in Spain. As your audit firm does not have an office in Spain, What type of audit report should you issue?
Explain why measurement has an essential role in accounting : Explain the reasons that prompted accounting standard setters to consider a single measurement base model. Explain why measurement has an essential role
Distinguish between a proprietary company and public company : Distinguish between a proprietary company and a public company. Outline the advantages of incorporation over other forms of organisation such as partnerships
Distinguish between a large and a small proprietary company : Distinguish between a large and a small proprietary company. What are the implications of being classified large rather than small?
How much is the gain on sale for hotel de luna company : Depreciation was recorded on a monthly basis using straight-line method. Using conceptual framework's derecognition concept, how much is the gain/loss on sale?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd