After discovering that a related-party
transaction exists, the auditor should be
aware that the
a. Transaction is assumed to be outside the
ordinary course of business.
b. Substance of the transaction could
be significantly different from its
form.
c. Adequacy of disclosure of the transaction
is secondary to its legal form.
d. Financial statements should recognize
the legal form of the transaction rather
transaction exists, the auditor should be
aware that the
a. Transaction is assumed to be outside the
ordinary course of business.
b. Substance of the transaction could
be significantly different from its
form.
c. Adequacy of disclosure of the transaction
is secondary to its legal form.
d. Financial statements should recognize
the legal form of the transaction rather