Roll-forward procedures relate to _______.
A)auditors updating their audit findings from an interim period through year-end
B)auditors updating their audit findings from year-end through an interim period
C)any substantive procedure performed after the balance sheet date
D)any procedure carried out by the auditor to update their audit findings through the date of the audit report

Question

Quizplus · Accepted Answer

Roll-forward procedures are performed by auditors to update their audit findings from an interim period (e.g. 9 months) to year-end (e.g. 12 months). This is done to ensure that the financial statements are fairly presented as of the balance sheet date. Thus, choice A is the correct answer as it describes the correct definition of roll-forward procedures.

Roll-Forward Procedures Relate to _______