29.4 The chairman’s report in the accounts of Table Co (a listed company) for the year ended 31 December states that the company’s trading resulted in a profit before tax of USD5 million. The profit and loss account and directors’ report, however, state that the company made an operating profit for the year of USD5 million but a net loss after taxation of USD7 million. The auditor considers that the information given in the chairman’s report is inconsistent with thefinancial statements, but is unable to persuade the chairman to amend his report.What should the auditor do?
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