Soon after Boyds audit report was issued, Boyd learned of certain related party transactions that occurred during
Question:
Soon after Boyd’s audit report was issued, Boyd learned of certain related party transactions that occurred during the year under audit. These transactions were not disclosed in the notes to the financial statements. Boyd should
a. Plan to audit the transactions during the next engagement.
b. Recall all copies of the audited financial statements.
c. Determine whether the lack of disclosure would affect the auditor’s report.
d. Ask the client to disclose the transactions in subsequent interim statements.
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Related Book For
Auditing Integrated Concepts And Procedures
ISBN: 9781260299397
5th Edition
Authors: Donald H. Taylor, G. William Glezen
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