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Advise whether the constructive liability should arise

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Reference no: EM133009836

You are a CPA working for an accounting firm called AccPlus. One of your clients is Cairns Ltd. James Manning is the Managing Director of Cairns Ltd. He often contacts you for accounting issues, which he cannot understand. Currently he has expressed some concerns over a couple of accounting issues as shown in the memo and he is seeking for your professional advice.

Problem 1: Advise whether the constructive liability should arise?

Reference no: EM133009836

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