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Standard Audit Report

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TPC wants to be ensured that the audit report for year-end 2005 is a standard unqualified audit report. Management has requested that you create a presentation about how to obtain an unqualified audit report. Include the following details:

What are the circumstances that could prevent the external auditors from providing an unqualified report?
What steps can be taken by TPC to address any concerns?

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TPC wants to be ensured that the audit report for year-end 2005 is a standard unqualified audit report. Management has requested that you create a presentation about how to obtain an unqualified audit report. Include the following details:

What are the circumstances that could prevent the external auditors from providing an unqualified report?
The circumstances that could prevent the external auditors from giving an unqualified report are:
1. There is uncertainness in the business of TPC that could have a material impact on the financial statements of TPC.
2. There is a departure from the generally accepted recognized accounting principles in the preparation of the ...

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Hatim Baxamusa, MBA
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  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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