When There Is a Lack of Consistent Application in Accounting

question 87

Multiple Choice

When there is a lack of consistent application in accounting principles,

• A) the nature and impact of the change should be adequately disclosed.
• B) the auditor should discuss the nature of the change and point the reader to the footnote that discusses the change.
• C) the materiality of the change is evaluated based on the current year effect of the change.
• D) all of the above.

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Definitions:

Online Mentoring

A method of guidance and support provided via digital platforms, connecting mentors and mentees regardless of geographical distances.

Succession Planning

A process for identifying and developing new leaders who can replace old leaders when they leave, retire or die.

Double-Loop Learning

A learning model where participants question and modify the underlying beliefs and assumptions behind their actions, enabling transformational changes and solutions.

Feedback-Intensive Program

A structured program designed to provide participants with extensive and detailed feedback on their performance or behavior.