Audit and Assurance - Effects of post-balance sheet events 8. Your firm is auditing the financial statement of ABCD Sdn Bhd for the year ended 30 September 2021. The plan is to complete the field work and sign the auditor report on 3o November 2021. You are asked to determine whether any events and transactions have occurred after 30 September 2021 that may affect the 2021 financial statements. Required: Identify the general types of subsequent events would require your consideration and evaluation. Discuss auditing procedures should you consider performing to gather evidence concerning subsequent event.
Audit and Assurance - Effects of post-balance sheet events 8. Your firm is auditing the financial statement of ABCD Sdn Bhd for the year ended 30 September 2021. The plan is to complete the field work and sign the auditor report on 3o November 2021. You are asked to determine whether any events and transactions have occurred after 30 September 2021 that may affect the 2021 financial statements. Required: Identify the general types of subsequent events would require your consideration and evaluation. Discuss auditing procedures should you consider performing to gather evidence concerning subsequent event.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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8. Your firm is auditing the financial statement of ABCD Sdn Bhd for the year ended 30 September 2021. The plan is to complete the field work and sign the auditor report on 3o November 2021. You are asked to determine whether any events and transactions have occurred after 30 September 2021 that may affect the 2021 financial statements.
Required:
- Identify the general types of subsequent events would require your consideration and evaluation.
- Discuss
auditing procedures should you consider performing to gather evidence concerning subsequent event.
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