Answered: According to the IMA’s Statement of…

According to the IMA’s Statement of Ethical Professional Practice, would it be ethical for Perlman notto report the inventory as obsolete?

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter5: Corporate Ethical Governance & Accountabililty

Section: Chapter Questions

Problem 24.1EC

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Concept explainers

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.

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According to the IMA’s Statement of Ethical Professional Practice, would it be ethical for Perlman not
to report the inventory as obsolete?

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