medium10 pts · first answer countsaudit-reportingauditing-standards

A representation that clashes with evidence

Management represents that no guarantees were given, but a bank confirmation shows a ₹10 crore corporate guarantee. What should the auditor do?

A.Resolve the conflict and reassess management’s reliabilityB.Accept the representation because management signed itC.Rely on the bank confirmation and not raise the matterD.Ask the bank to reissue its confirmation without the guarantee

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A representation that clashes with evidence

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