Auditors must be concerned with events that occur subsequent to the balance sheet date,because the events may need to be reflected in the financial statements.
a.Describe the two general types of subsequent events.
b.What is the auditors' responsibility with respect to detecting subsequent events?
c.List three audit procedures that are used by the auditors to search for subsequent events.

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The Answer of Auditors must be concerned with events that occur subsequent to the balance sheet date,because the events may need to be reflected in the financial statements.
a.Describe the two general types of subsequent events.
b.What is the auditors' responsibility with respect to detecting subsequent events?
c.List three audit procedures that are used by the auditors to search for subsequent events.

Auditors Must Be Concerned with Events That Occur Subsequent to the Balance