The subsequent discovery of facts that existed at the balance sheet date refers to knowledge obtained after

Question:

The “subsequent discovery of facts that existed at the balance sheet date” refers to knowledge obtained after which date?

a. The date the audit report was delivered to the auditee.

b. The audit report date.

c. The company’s year-end balance sheet date.

d. The date interim audit work was complete.

Audit Report
The audit report is issued by a certified public accountant who is appointed by the shareholders to provide assurance upon the truth and fairness of the financial statements prepared by the managers of the company. Audit report contains the... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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