sentiment 1 Venue : Office of Larnoo Enterprises actor : 1. Non executive director coach         2. Executive Director         3. Financial Accountant         Archie         :         Do we puddle any legislative obligation to be audited? Nijina         :         No! on that point is no legislative obligation for a medium coat smart set to be audited under combine Law.                 However, according to disputation of Accounting Concept 1, we are reap entity, and under Corporate Law Section 292(1), a describe entity has to be audited. Yin mei         :         So, what is Accounting Concept 1, could you explain it more(prenominal) detail? Nijina         :         If there is separation of ownership from visit and management, the company is a account entity, such as our company. Yin M ei         :         What is the residuum between explanation and auditing. Nijina         :         Accounting is the process of identifying, measuring and reporting economic transactions, speckle auditing is an independent examination of financial or non-financial discipline for the manipulation of providing an assurance on the credibility of that information to intended users. Archie         :         If we do auditing, What kind of benefit can we operate from it. Nijina         :         It provides an access to neat markets, lower cost of capital, deterrent to inefficiency, fraud, control and operational improvements. Archie         :         Okay, occupy find some information to take over an auditor for auditing our company.
Scene 2 Venue : Office of Worthington partners Player : 1. Audit coadjutor         2. Audit sr.         3. Audit Senior         4. Audit participator         5. Audit Assistant         Hui Leng         :         We have received a letter from the Larnoo enterprises, the management is interested to engage our firm as an auditor. deplume         :         It may be a good see to take out up a new invitee! Hui Leng         :         I hold so! But it is time to hash out something for bear witnessation to the client before next meeting. Regina         :         Ok! It is suggested to pres ent different types of... If you indispensability to get a full essay, erect it on our website:
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