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Xiao, PA, is the audior of Minkle Credit Union, a medium-sized credit union. Xiao has prepared a ...

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Xiao, PA, is the audior of Minkle Credit Union, a medium-sized credit union. Xiao has prepared a ...

Xiao, PA, is the audior of Minkle Credit Union, a medium-sized credit union. Xiao has prepared a management letter with several serious control weaknesses. Management agrees with the facts, but does not want to present the letter with the weaknesses to the audit committee or the board of directors. Management has implied that they will request a change of auditors if your firm presents the management letter to the board.
Required: Discuss the actions that Xiao should take. Justify your response.

Textbook

Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

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