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John Anderson, CPA, is auditing the financial statements of American Turkey and Taco Cat, a privately owned company, for the year ended December 31, 2019. Anderson plans to complete fieldwork and sign the auditor's report about March 10, 2020. Anderson is concerned about events and transactions occurring after December 31, 2019, that may affect the 2019 financial statements.   What general types of subsequent events require Anderson's consideration and evaluation?   What auditing procedures should Anderson consider performing to gather evidence concerning subsequent events?

John Anderson, CPA, is auditing the financial statements of American Turkey and Taco Cat, a privately owned company, for the year ended December 31, 2019. Anderson plans to complete fieldwork and sign the auditor's report about March 10, 2020. Anderson is concerned about events and transactions occurring after December 31, 2019, that may affect the 2019 financial statements.   What general types of subsequent events require Anderson's consideration and evaluation?   What auditing procedures should Anderson consider performing to gather evidence concerning subsequent events?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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John Anderson, CPA, is auditing the financial statements of American Turkey and Taco Cat, a privately owned company, for the year ended December 31, 2019. Anderson plans to complete fieldwork and sign the auditor's report about March 10, 2020. Anderson is concerned about events and transactions occurring after December 31, 2019, that may affect the 2019 financial statements.

 

What general types of subsequent events require Anderson's consideration and evaluation?

 

What auditing procedures should Anderson consider performing to gather evidence concerning subsequent events?

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