1) Explain the position and importance of completion and review procedures within the audit process.

2) Discuss the importance of, and audit procedures used for: - the review for contingent liabilities and commitments, and - the review for subsequent events.

3) Distinguish between subsequent events which necessitate adjusting and non-adjusting events.

Answer rating: 100% (QA)

1 The completion of audit process involve five stages which are i Adequate planning and control of audit work should be done by the Auditor ii The Auditor should ascertain the entity system of recordi... View the full answer