- This topic has 5 replies, 2 voices, and was last updated 2 years ago by
.
- Posts
- Topics: 53
- Replies: 46
- ☆☆
up until which date the auditor should perform subsequent events procedures?
is the timelime between the Fs are spproved and auditors report signed or
in btw the period report signed and Fs issued?Auditors have active duty till the auditors report is signed and after that isnt it passive ?
thanks
An audit is effectively over when the auditor’s report is signed, this is when the auditor’s duty is discharged. So “active” duty is until then (see Chapter 26 in our notes).
I’ll come back to you on the other point later …
- Topics: 53
- Replies: 46
- ☆☆
quick response! thanks!
Subsequent events in auditing terms are any events after the reporting date i.e.
– from date of FS (i.e. y/e) until date of auditor’s report = “active” duty
and
– after date of auditor’s report = “passive” dutySequence of events is:
1. Directors sign FS (“authorise for issue”)
2. Auditor signs report – active duty ENDS – passive duty only from here on
3. FS issued (with auditor’s report thereon) typically at the AGMOf course in practice, there may be no delay between 1, 2 and 3 – 1 and 2 before lunch and the AGM after lunch (!)
- Topics: 53
- Replies: 46
- ☆☆
thank you!!
- The topic ‘Blenken and Co,Q6 BPP’ is closed to new replies.