- 10 Marks
AA – Mar 2024 – L2 – Q4a – Institutional Regulation and Standard-Setting
Discuss significant audit issues faced by national standard-setting bodies and the IAASB.
Question
Santom Ltd is a global company that produces and sells consumer electronics. In the past year, Santom Ltd has faced several challenges, including the COVID-19 pandemic, supply chain disruptions, and increased regulatory scrutiny. Recent global events have raised significant audit issues for external auditors.
The national standard-setting bodies and the International Auditing and Assurance Standards Board (IAASB) are currently dealing with several significant audit issues.
Required:
Discuss FIVE (5) of these significant audit issues.
Find Related Questions by Tags, levels, etc.
- Tags: Audit Issues, COVID-19 Impact, Cybersecurity, Fraud Detection, IAASB, Standard-Setting Bodies
- Level: Level 2
- Topic: Institutional Regulation and Standard-Setting
- Series: MAR 2024
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