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SUBSEQUENT EVENTS

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › SUBSEQUENT EVENTS

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Kim Smith.
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  • August 1, 2021 at 2:39 pm #630035
    shaunak22
    Participant
    • Topics: 217
    • 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

    DOUBTS- i understand why 1,3 &4 are appropriate procedure to identify subsequent event but why is (2) a procedure to identify subsequent event?

    how does enquiry about issue of shares and debentures provides existances of subseqent event?

    August 1, 2021 at 3:07 pm #630041
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6787
    • ☆☆☆☆☆

    They would be non-adjusting events – but they are still subsequent events.

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