Consider each of the following independent situations which have come to your attention. In each of the following independent and material situations assume that the client is a reporting entity and...

Consider each of the following independent situations which have come to your attention. In
each of the following independent and material situations assume that the client is a
reporting entity and that a general-purpose financial report has been prepared and audited: The management of Surf Limited's has refused to disclose a few, director related

transactions on the grounds of commercial confidentiality. The financial controller reminds

you that no other errors have been found in the financial report and states that the

transactions are immaterial and therefore irrelevant to the users of the financial report.