quesiton 12 You are the auditor of TCG. On 14 January 2019, you were told that one of TCG's debtors hasbeen declared bankrupt. The debtor in question recently lost a court case and was ordered to paycompensation, the amount of which caused the debtor severe financial difficulties. The debts owedto TCG at balance date was $29 million.Additional information:• Annual balance date: 31 December 2018Completion of audit fieldwork: 25 February 2019Signing of audit report: 1 March 2019Publication of financial statements: 14 March 2019Required:State what the auditor will either do or request Management to do. Justify your response.

Answer: Annual balance date= 31 December 2018 Fieldwork completion = 25 February 2019 Signing of…

You are the auditor of TCG. On 14 January 2019, you were told that one of TCG's debtors has been declared bankrupt. The debtor in question recently lost a court case and was ordered to pay compensation, the amount of which caused the debtor severe financial difficulties. The debts owed to TCG at balance date was $29 million.

You are the auditor of TCG. On 14 January 2019, you were told that one of TCG's debtors has been declared bankrupt. The debtor in question recently lost a court case and was ordered to pay compensation, the amount of which caused the debtor severe financial difficulties. The debts owed to TCG at balance date was $29 million.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter15: Audit Reports For Financial Statement Audits

Section: Chapter Questions

Problem 19RQSC

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