Appraisal value issue, Discuss the ethical issues involved

Appraisal value issue

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

Questions Cloud

Accountable action : What types of unethical behavior should we expect to see from our clients? Also, how do we interpret "honest" mistakes from intentional fraud?

Describe financial management : Describe Financial Management and Create an argument that explains why financial managers should be concerned with quality initiatives in the health care organization

Concept of inefficient markets and corporate decisions : Suppose the comments of Brian Walker, the president of Herman-Miller North America, who was quoted in chapter as having said: 'For dot.coms, it appears that market has implicitly capitalized a lot of those costs.

Thoughts in opinions on both theories : Personal thoughts in opinions on both theories and which would you support one overthe other.

Appraisal value issue : 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.

Explain a rehabilitation center wants to target women : Explain A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident

Identity formation process of adolescents : How might such a social ritual, such as a rite of passage, influence the identity formation process of adolescents? In light of

Explain basic micro loan program : Discuss and explain the advantages and disadvantages of each of following programs in terms of complexity of application and protection in the event of a default:

Designing tests of controls : Design tests of controls, substantive tests of transactions, and analytical procedures for the following Apollo Shoes cycles:

User Account

All Pages