Anaba Sampson is an audit assistant of Global Accountants, a firm of Chartered Accountants. During the audit of a client

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Anaba Sampson is an audit assistant of Global Accountants, a firm of Chartered Accountants. During the audit of a client

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Anaba Sampson is an audit assistant of Global Accountants, a
firm of Chartered Accountants. During the audit of a client’s
account, for the year ended 31 December 2020, Anaba Sampson
detected an error amounting to Ten Ghana Cedis (GH¢10.00) in
respect to each interest payment which recurred a number of times.
The Chief Accountant of the client advised Anaba not to request for
passing any adjustment entry as individually the errors were
insignificant. The company had GHS 3,000 deposit accounts and
interest was paid half yearly.
Required:
ii. Discuss the advice of the Chief
Accountant.
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