Which of the following substantive procedures should auditors ordinarily perform regarding subsequent events?a. Compare the latest available interim financial statements with the financial statementsbeing audited.b. Send second requests to the client’s customers who failed to respond to initial accountsreceivable confirmation requests.c. Communicate material weaknesses in internal control to the client’s audit committee.d. Review the cutoff bank statements for several months after the date of the financialstatements.
Which of the following substantive procedures should auditors ordinarily perform regarding subsequent events?a. Compare the latest available interim financial statements with the financial statementsbeing audited.b. Send second requests to the client’s customers who failed to respond to initial accountsreceivable confirmation requests.c. Communicate material weaknesses in internal control to the client’s audit committee.d. Review the cutoff bank statements for several months after the date of the financialstatements.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter13: Auditing Debt, Equity, And Long-term Liabilities Requiring Management Estimates
Section: Chapter Questions
Problem 36CYBK
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Which of the following substantive procedures should auditors ordinarily perform regarding subsequent events?
a. Compare the latest available interim financial statements with the financial statements
being audited.
b. Send second requests to the client’s customers who failed to respond to initial accounts
receivable confirmation requests.
c. Communicate material weaknesses in internal control to the client’s audit committee.
d. Review the cutoff bank statements for several months after the date of the financial
statements.
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