COMM 455 Lecture 10: C455 - Lecture 10 Notes

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26 Dec 2015
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Lecture 10 october 19, 2015 (chp 6 7) When you don"t have expertise at point in time. Cas 620: gemologist, actuary, independence, competence, assess their report. Don"t mention use of expert in report unless there is inconsistency: consistent with financial statements, use wrong data violation of gaap disclose, no reference unless there is a problem. Gaap deviation, material qualified opinion (except for one thing) or adverse (pervasive, statements misleading) Scope limitation qualified opinion (can"t tell you if something is wrong, not sufficient info), or disclaimer (can"t form opinion) Company a (pwc group engagement partner) owns 100% of. Auditor of a would like to be auditor of b as well. A has to consolidate on b: no issue, doing the work, responsible for them all, scott co do the work, pwc have to have the ability to rely on reports of.

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