abc tech company has been growing rapidly and has recently engaged a firm as its aud 4445014

ABC Tech Company has been growing rapidly and has recently engaged a firm as its auditor. it is actively traded over the counter (OTC) and believes it has outgrown the service capabilities of its previous auditor. However, on contacting the previous auditor it was learned that a dispute led to the firms dismissal. The client wanted to recognize income on contracts for its produced but not shipped. The client believed the contract were firm, and that all the principal revenue-producing activities had been performed. The change in accounting principle would have increased net income 35 per cent during the last year.

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