Auditors are responsible to search for both types of subsequent events between ________.
A)the financial statement year-end date and the audited financial statement issue date
B)the audit report date and the audited financial statement issue date
C)the financial statement year-end date and the audit report date
D)the interim audit date and the audit report date

Question

Quizplus · Accepted Answer

Auditors are responsible for searching for subsequent events between the financial statement year-end date and the audit report date. This is because the financial statements should reflect events that occurred up to the year-end date, but events that occur after that date could materially impact the financial statements and would need to be disclosed. The audit report date is after the audit has been completed, so subsequent events after this date would not be relevant to the audited financial statements. The interim audit date is not relevant to subsequent events, as it is the audit of only a portion of the financial statements and not the entire year-end financial statements.

Auditors Are Responsible to Search for Both Types of Subsequent