Appraisal value issue, Discuss the ethical issues involved

Appraisal value issue

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Reference no: EM1351070

This is the first year that you have audited Hurst & Johnson Corporation. You discovered that the company is carrying its property, plant, and equipment at appraisal values and determines depreciation on the basis of these values. This is considered a very large scope-limitation, and you have not been able to form an opinion on the financial statements taken as a whole.

- Discuss the ethical issues involved with this situation.

- Explain how you should handle this situation.

- Explain what type of report you should issue and why.

Reference no: EM1351070

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