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Find and describe the impact on the audit report

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Reference no: EM132574732

You are the audit manager of Daffy & Co and you are briefing your team on the approach to adopt in undertaking the review and finalisation stage of the audit of your client Minnie Co. Profit before tax for the year is $10,000,000.

You identified the following 3 issues:

Issue: Minnie Co's computerised wages program is backed up daily, however for a period of two months the wages records and the back-ups have been corrupted, and therefore cannot be accessed. Wages and salaries for these two months are $1,100,000.

Required:

Question 1: Discuss the issue and describe the impact on the audit report if the above issues remain unresolved

Reference no: EM132574732

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