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Whenever the client imposes restrictions on the scope of the audit,the auditor should be concerned about the possibility that management is trying to prevent discovery of misstated information.In such cases,which type of report should be issued?
LDCs
LDCs, or Least Developed Countries, are countries that have been classified by the UN due to their low GDP per capita, weak human assets, and high degree of economic vulnerability.
NICs
Newly Industrialized Countries, nations that have recently experienced rapid industrial growth and show signs of moving from a mainly agricultural to an industry and manufacturing-based economy.
Net National Savings Rate
A measure of the total savings of an economy after taking into account depreciation, expressed as a percentage of Gross National Product (GNP).
Industrial Nations
Countries that are highly developed and have a major portion of their economy based on manufacturing and industry.
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