subsequent event

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May 2, 2012 at 5:59 pm #52461
tryphena
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one of the audit procedures the auditor performs in relation to subsequent event is “inspection of minutes of members and directors meeting”i will like to know why this is done.and also inspection of corresponding with legal advisors.thanks
May 3, 2012 at 2:20 pm #97032
Ken Garrett
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Directors are likely to discuss all important matters so a debtor going bad would probably be mentioned in the minutes. Similarly legal advisers are likely to be consulted on some important matters.
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