ACC311 GDB 1 Solution and Discussion
Total Marks 5
Starting Date Wednesday, December 01, 2021
Closing Date Tuesday, December 07, 2021
Question Title Auditor``s Report
With reference to the Auditor’s Report, answer the following questions: (1.25 * 4 Marks)
The recent final audit report of an FMCG carries a line which is read as … in the manner so required and respectively give a true and fair view of the state of the company’s affairs …… Briefly describe the meaning of “true and fair view”.
An external auditor is not responsible for preparing his client’s financial statement. Why?
Why do the notes annexed to the financial statements become an integral part thereof?
List down any two matters upon which an auditor is bound to give his opinion.
Carefully review your GDB before submission on VU-LMS as it cannot be replaced once it is submitted.
Your discussion must be based on logical aspects of the topic requirements with proper justification.
There is a limit of 200 Words for discussion and your answer should be concise, relevant and comprehensive.
Use the font style “Times New Roman” and font size “12”.
Your answer should be relevant to the topic i.e. clear and concise.
Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
Books, websites, handouts and other reading material may be consulted before posting your comments; but copying or reproducing the text from books, websites, handouts and other reading materials is strictly prohibited. Such comments will be marked as Zero (0) even if you provide references.
You should post your answer on the Graded Discussion Board (GDB), not on the Moderated Discussion Board (MDB). Both will run parallel to each other during the time specified above. Therefore, due care will be needed.
Obnoxious or ignoble answer should be strictly avoided.
You cannot participate in the discussion after the due date via email.
Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over.
For planning your semester activities in an organized manner, you are advised to view schedule of upcoming Assignments, Quizzes and GDBs in the Course Calendar/Lesson Index of the course on VU-LMS.
As you know that load shedding problem is also prevailing in our country. Keeping in view the fact, you are advised to submit your GDB well before time without waiting for the due date. For your convenience, you have been communicated well before time so that you can manage your activities, therefore no excuse will be entertained after due date of GDB.