The auditor's responsibility according to the auditing standards is to
A) respond to subsequent events
B) prepare adjusting entries for subsequently discovered facts if they come to the auditor's attention
C) ensure the client discloses subsequently discovered facts if they come to the auditor's attention
D) search for subsequent events
E) respond to subsequently discovered facts if they come to the auditor's attention
F) both A and B
G) both C and E
H) Both D and E
Correct Answer:
Verified
Q32: Type I subsequent events
A)provide evidence for conditions
Q33: The auditor seeks direct communication with the
Q34: In addition to contingent liabilities,a company may
Q35: There are two types of events of
Q36: The requirements for Type I and Type
Q38: If both required conditions of loss contingencies
Q39: Type II subsequent events
A)provide evidence for conditions
Q40: Subsequently discovered facts are facts that
A)occur between
Q41: The FASB define related parties as
A)customers of
Q42: The FASB define related parties as
A)affiliates of
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