Auditor as Guarantor


Question Description:

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Auditor as Guarantor 1 answer below ยป Your neighbor Loot Starkin invited you to lunch yesterday. Sure enough, it was no “free lunch” because Loot wanted to discuss the annual report of Dodge
Corporation. He owns Dodge stock and just received the annual report. Loot says, “Our auditors prepared the audited financial statements and gave an
unqualified opinion, so my investment must be safe.” Required: What misconceptions does Loot Starkin seem to have about the auditor’s role with respect to Dodge Corporation? Dec 09 2013 08:57 PM

Answer

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