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COMPLETAITON AND REVIEW

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › COMPLETAITON AND REVIEW

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by Kim Smith.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • September 1, 2021 at 12:00 pm #633790
    shaunak22
    Participant
    • Topics: 220
    • Replies: 41
    • ☆☆☆

    Which of the following audit procedures would identify subsequent events occurring up to
    the date of the auditor’s report?
    (1) Enquire of management whether there have been any unusual accounting
    adjustments
    (2) Enquire of management whether there have been any issues of shares/debentures,
    or changes in business structure
    (3) Review management procedures for identifying subsequent events to ensure that
    such events are identified
    (4) Obtain written representation that all subsequent events requiring adjustment or
    disclosure have been adjusted or disclosed

    1 and 2
    1 and 3
    1, 3 and 4
    1.2.3 and 4

    the answer is D but how is 2 a subsequent procedure to identify subsequent event?

    September 1, 2021 at 7:13 pm #633852
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8275
    • ☆☆☆☆☆

    y/e 31 December 2020

    Ask directors in 2021 – they reply yes … it’s a subsequent event – it’s clearly not adjusting but still a subsequent event.

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