Discuss the auditors responsibility for detecting subsequent events (a) Prior to the completion of field work, (b)
Question:
Discuss the auditor’s responsibility for detecting subsequent events
(a) Prior to the completion of field work,
(b) Prior to signing the audit report,
(c) Between the date of the audit report and the issuance of the financial report.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
An auditor has the responsibility to detect and evaluate subsequent events throughout the audit process to ensure that the financial statements are not materially misstated and remain relevant The spe...View the full answer
Answered By
Umber Talat
I am providing full time mentoring and tutoring services in Business Finance, Contemporary issue in Global Economy, Quantitative Techniques, Principles of Marketing, strategic marketing, International Marketing, Organizational Behavior (OB), Consumer Behavior, Sales Force Management, Strategic Brand Management, Services Marketing, Integrated Marketing Communication (IMC), Principles of Management, General Management, Strategic Management, Small and Medium Enterprise Management, Innovation Management, Change Management, Knowledge Management, Strategic Planning, Operations Management, Supply Chain Management, Logistics Management, Inventory management, Total Quality Management (TQM), Productions Management, Project Management, Production Planning, Human Resource Management (HRM), Human Resource Development, Strategic HRM, Organizational Planning, Performance and Compensation Management, Recruitment and Selection, Organizational Development, Global Issues in Human Resource Management, Retail Marketing, Entrepreneurship, Entrepreneurial Marketing, International Business, Research Methods in Business, Business Communication, Business Ethics.
4.70+
158+ Reviews
236+ Question Solved
Related Book For
Auditing A Practical Approach
ISBN: 9780730364573
3rd Edition
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
Question Posted:
Students also viewed these Business questions
-
Oliver and Charlotte are discussing the audit plan for a large manufacturing company. The company has two main manufacturing plants plus several warehouse and distribution centres (one in each...
-
Riley and Rosie are discussing the audit plan for a large manufacturing company. The company has two main manufacturing plants plus several warehouse and distribution centres (one in each state). The...
-
Explain the difference between the two types of subsequent events. Discuss the auditor's responsibility for detecting subsequent events (a) prior to the completion of field work, (b) prior to signing...
-
In Problems 4158, fill in the blank to form a correct inequality statement. If x < 5, then x - 5_ 0.
-
A partial income statement of IBN Corporation for Year 0 follows. The company uses just-in-time inventory, so production each year equals sales. Each dollar of finished product produced in Year 0...
-
At the ABC Floral Shop, an argument developed between two of the owners, Bob and Henry, over the accuracy of forecasting methods. Bob argued that exponential smoothing with = .1 would be the best...
-
The 2014 financial statements of LVMH Moet Hennessey-Louis Vuitton S.A. are presented in Appendix C at the end of this book. LVMH is a Paris-based holding company and one of the worlds largest and...
-
Data for the North, South, East, and West divisions of Free Bird Company are as follows: a. Determine the missing items, identifying each by the letters (a) through (l). Round percents and investment...
-
Study the scenario described below and answer all questions that follow. Firms achieve their missions in three conceptual ways: (1) differentiation, (2) costs leadership, and (3) response. In this...
-
What is the difference between current-year misstatements and prior-year misstatements?
-
Emphasis of matter is used without an accompanying qualification of the audit report when: (a) An extreme limitation of the scope of the engagement exists. (b) A significant uncertainty exists that...
-
a. A firm invests in a project that is expected to earn a return of 12 percent. If the appropriate cost of capital is also 12 percent, did the firm make the right decision? Explain. b. What is the...
-
Use the IHSA canada site to find some training material and share your findings in the Material for Safety Training Discussion Forum. Explain why this would be a good topic to present to workers you...
-
In 2025, Sunland Corporation discovered that equipment purchased on January 1, 2023, for $40,000 was expensed at that time. The equipment should have been depreciated over 5 years, with no salvage...
-
Project/Topic: Metricon Homes Stakeholders identified: Clients Investors Regulatory authorities Builder Supplier Question 1 : Provide a brief description of what each one does in relation to being a...
-
Weight: 9% Submit: via the Dropbox tool Due: Friday of Week 10 by 11:59 pm ET Note: Please refer to the Outline for exact due dates. Choose arbitrarily one bond fund, one Canadian equity fund, and...
-
Assembly operations for an electric bike production process were studied. Value added and non-value added operations and their average times are listed in the following table. Assume that you could...
-
A college professor has collected data for a random sample of 43 of her students. She has their final semester average marks, and the total number of hours each spent working during the semester. The...
-
The percentage of completion and completed contract methods are described in the FASB ASC. Search the codification to find the paragraphs covering these topics, cite them, and copy the results.
-
Hilltop Partners is planning the audit for one of its clients. Jake Hilltop is performing the risk assessment at the assertion level for the accounts payable account to determine the nature and...
-
James Wu has been assigned the audit planning for the property, plant, and equipment section for a large manufacturing audit client. The client built a new factory during the first six months of the...
-
James Wu has been assigned the audit planning for the property, plant, and equipment section for a large manufacturing audit client. The client built a new factory during the first six months of the...
-
Answer based on the following information: Summary Income Statement in $ Sales5,000,000 EBIT1,000,000 Int. Expense40,000 EBT960,000 Net Income624,000 Other Financial Information in $ Market Value of...
-
Bond Pricing, Duration, and Convexity 1. Using the following data from Sept. 2, 2021, plot (graph) the corporate A-rated yield and Treasury yield curves and calculate the default premium spread (in...
-
Rules of professional conduct for accountants should: a. be the same as those for lawyers or engineers b. not be seen as strict when the client requests certain requirements c. be considered a...
Additive Number Theory Of Polynomials Over A Finite Field 1st Edition - ISBN: 5893214758 - Free Book
Study smarter with the SolutionInn App