An auditor should be aware of a subsequent event that provides evidence concerning conditions that did not
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Question:
An auditor should be aware of a subsequent event that provides evidence concerning conditions that did not exist at year-end but arose after year-end. These events may be important to the auditor because they may:
a. Have been recorded based on preliminary accounting estimates.
b. Require adjustments to the financial statements as of the year's end.
c. Have been recorded based on year-end tests for asset obsolescence.
d. Require disclosure to keep the financial statement from being misleading.
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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