Wrap-up audit procedures include which of the following:
A) subsequent events review.
B) going concern evaluation.
C) inquiry of a client's lawyer.
D) All of the above.

Question

Quizplus · Accepted Answer

Wrap-up audit procedures include all of the above options which are subsequent events review, going concern evaluation, and inquiry of a client's lawyer. Subsequent events review is conducted at the end of the audit fieldwork to identify any events that occurred after the balance sheet date but before the issuance of financial statements. Going concern evaluation is carried out to evaluate the client's ability to continue as a going concern for the next 12 months. Inquiry of a client's lawyer is essential to gather information about any possible litigation, claims, or assessments against the client, which can have a significant impact on the financial statements. Therefore, D is the correct choice.

Wrap-Up Audit Procedures Include Which of the Following