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