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Auditor's Procedures - Going Concern
In forming a thought on the going to relate position of a company, the auditors have to:
a) Examine the company, its plans for the future, its background, review of cash flows and the financing plans;
b) At every level of the audit research for and evaluate evidence for and against the going to relate applicability;
c) Whether he is in doubt, and the directors have formulated plans for the continuation of the company, he has to evaluate these plans, ensuring about:
d) Consider where he has enough evidence to form a thought on the applicability of the going to relate assumption.
The Tonka Manufacturing Company conducts its annual physical inventory at the end of the calendar year as a result of the auditor's assessment of non-operating internal controls in
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Problem: "If the auditor wishes to place reliance on internal control,he should ascertain and evaluate those controls and perform compliance tests on their operation" (a) De
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