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...
-
Individual rights associated with criminal law are grounded in the following four amendments to the U.S. Constitution: 1. First, Fourth, Fifth, and Ninth 2. Fourth, Fifth, Sixth, and Ninth 3. Fourth,...
-
Define the following: a. Asset b. Liability c. Net asset
-
1. Develop a schedule for hiring new employees. What is the total cost of this schedule? 2. Discuss any limitations that exist for this solution. 3. How would the schedule change if the attrition...
-
Why would you perform a silent installation? What is the purpose of a password complexity policy? Oracle offers a free download of all editions of the Oracle Database. How does the company derive...
-
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 particle moves along the spiral shown. Knowing that is constant and denoting this constant by , determine the magnitude of the acceleration of the particle in terms of b, , and . r-be
-
Consider F(x) = { 1 + = 6 X-2 X3 2x-12 X13) Compute the following limits 1/7/2 (F(x)) a.) lim X2 b.) lim (f(x))
-
A transverse wave on a string has a wavelength of 2 . 0 m , a period of 0 . 0 4 s , and an amplitude of 2 . 5 cm . The average power transferred by the wave is 6 . 0 0 W . What is the tension ( in N...
-
Question 3 (Marks 6) The government wants to encourage homeownership and has enacted a program that will supply low-income households with housing that is 50% the price of comparable houses. You are...
-
4. What are the diagonal entries of a variance-covariance matrix? If you have two assets with a correlation of 0.65 and variances of 0.03 and 0.04, what would be the entries in the variance-...
-
The transmission of electric power occurs at the highest possible voltage to reduce losses. If the voltage were raised by a factor of 3.2, by what factor would the power loss be reduced? A: 7.48 B:...
-
Match the following decisions in column 1 (a through e) to all relevant costs or revenue in column 2 (1 through 5): a. Reject a special order. b. Production-constrained decision. c. Make or buy a...
-
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...
-
You are at the end of November and you want to forecast sales for December. What kind of information can you find in the text? You are at the end of November: meaning t=November You want to forecast...
-
Cost-Volume Graphs Use a cost-volume graph to determine the type of cost behavior exhibited in Groups A, B, and C. In the graph, volume should range from 0 to 36,000 units (in 4,000 unit increments),...
-
What is the purpose of the day sheet? briefly define its purpose .
Study smarter with the SolutionInn App