Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 3 (5 marks) you have been asked by your a

QUESTION 3 (5 Marks) You have been asked by your audit client Blue Water Ltd...

70.2K

Verified Solution

Question

Accounting

image
QUESTION 3 (5 Marks) You have been asked by your audit client Blue Water Ltd to prepare a report that analyses the potential acquisition of Ocean Pty Ltd. As part of your analysis, you decide to verify the accuracy and completeness of Ocean's most recent cash flow statement. After reviewing a draft of your preliminary analysis, the chief financial officer (CFO) of Blue Water, Jill Symes, has asked you to focus your attention on Ocean's sales and profitability and to avoid the distraction of cash flow reporting. She suggests that the acquisition will provide substantial future financial benefits to Blue Water and that confusing the board with cash flow issues would not be helpful to the acquisition or to the likelihood of your being asked to undertake similar engagements in the future. REQUIRED Identify and describe two fundamental ethical principles that are at risk of being breached

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Ex 3. Consider the following definitions: Definition: Let a and b be integers. A linear combination...

Advance Math
Q

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end...

Accounting
Q

Epidermal ridges are responsible for the shape of your O stretch marks O fingerprints Ohairline...

Biology
Q

A set of exam scores are approximately normally distributed with mean 68 and standard deviation...

Statistics
Q

1 1

Accounting
Q

Instructions On November 30, the end of the first month of operations, Weatherford Company propared...

Accounting
Q

Salespersons' Report and Analysis Walthman Industries Inc. employs seven salespersons to sell and distribute its...

Accounting
Q

need help urgent

Accounting
Q

Parkins Company produces and sells a single product. The company's income statement for the most...

Accounting
Q

A taxpayer expects an income tax refund of $380 on May 1. On March 10,...

Finance
Q

5. How long will it last? Suppose a retirement account starts with a $ 500,000...

Finance
Q

how would I find the balance of land at year end? ...

Accounting