Question

The PA is the auditor of Shire Corp., a public company, and has also been engaged to review Shire’s third-quarter interim financial statements. Shire’s third-quarter financial statements will be filed with the securities regulator within 30 days of the quarter-end and will also be posted on Shire’s corporate website at that time.

Required:
a. Describe the procedures the PA will use to review the quarterly financial statements and the contents of the PA’s review engagement report.
b. How might the PA’s work on the prior year-end audit relate to and help with the review of the third-quarter report? (Consider what difficulties the PA might have in conducting this review if the PA did not also do the audit.)



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  • CreatedJanuary 09, 2015
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