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Hi Sir Mike!
Normally if the audit work needs to be completed in 4 months time where the audit report needs to be issued as well, is the time to complete the audit work considered realistic.
Thanks!
KyleAnnually there used to be unofficial competition amongst the big 5 to see which firm could get the first 31 December year end audit report out the earliest
Arthur Andersen won that unofficial competition more often then not issuing their audit opinion within a few hours into the new calendar year
Doesn’t this subject revolve around seasonality of the client entities?
Where a client is in a desperately quiet time as at the year end, the auditors, having done their interim audit work 2 months ago, should be able to issue a report and opinion within just a few days of the year end
It’s all a matter of circumstances
OK?
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