Before Reporting on the Financial Statements of a Canadian Entity

question 8

Multiple Choice

Before reporting on the financial statements of a Canadian entity that have been prepared in accordance with the accounting principles of another country,an auditor practising in Canada should ________.

• A)understand the accounting principles that are generally accepted in the other country
• B)be certified by the appropriate auditing or accountancy board of the other country
• C)notify management that the auditor is required to deny an opinion on the financial statements
• D)recast the financial statements according to Canadian GAAP

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Definitions:

Dimensional-analysis

A mathematical technique that converts quantities expressed in various units to equivalent quantities in different units using conversion factors.

Yards

A unit of length in the imperial and US customary systems, equal to 3 feet or 0.9144 meters.

Dimensional Analysis

The technique of applying conversion factors to express quantities in different units, often used in physics and engineering contexts.

Arithmetic

The branch of mathematics dealing with the properties and manipulation of numbers, including addition, subtraction, multiplication, and division.