- 15 Marks
AAA – L3 – Q67 – Environmental Issues
Discuss the impact of environmental issues on companies and their financial statements, and the auditor's role in addressing these.
Question
In recent years, many commentators have been placing increasing emphasis on the importance of the environment. Perhaps as a consequence of this, companies have begun to recognise their environmental responsibilities and environmental issues now often have important implications for companies. Such implications cannot be ignored by company auditors. The profession needs to show an awareness of the possible impact of environmental issues on clients’ financial statements.
Required
Discuss.
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