S1: An entity shall not describe financial statements as complying with PFRSS unless they comply with substantially all of the requirements of PFRS. S2: An entity whose financial statements comply with PFRS shall make an explicit and unreserved statement of such compliance in the notes to financial statements. S3: An entity can rectify inappropriate accounting policies either by disclosure of the accounting policies used or by notes or explanatory material. *
S1: An entity shall not describe financial statements as complying with PFRSS unless they comply with substantially all of the requirements of PFRS. S2: An entity whose financial statements comply with PFRS shall make an explicit and unreserved statement of such compliance in the notes to financial statements. S3: An entity can rectify inappropriate accounting policies either by disclosure of the accounting policies used or by notes or explanatory material. *
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter17: Other Services Provided By Audit Firms
Section: Chapter Questions
Problem 3TFQ
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