The Directors of Corp Ltd Agree That to Apply All

question 32

Multiple Choice

The directors of Corp Ltd agree that to apply all the AASB standards would not provide a true and fair view of Corp Ltd's financial position.They advise their auditors that the financial report will not comply with all AASB standards.Which is correct?

• A)The auditors must state in the audit report that the financial report does not comply with those AASB standards
• B)The directors are in accordance with the Corporations Act provided that they provide their reason(s) in the financial report
• C)The directors are in accordance with the Corporations Act provided that they list the standards that have not been complied with
• D)The auditors should audit the financial statements as they have been prepared and need disclose no information about the non-application of the AASB standards

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Definitions:

Between Groups

Refers to comparisons made across different groups or categories in an experiment or study.

Analysis of Variance

A statistical technique used to determine if there are any statistically significant differences between the means of three or more independent (unrelated) groups.

Well-being

A state or condition that encompasses physical, mental, and emotional health, often considered in terms of how individuals feel about their life and circumstances.

Treatment Types

The different conditions or interventions applied in an experimental study to examine their effects on the outcomes of interest.