Please enable JavaScript.
Coggle requires JavaScript to display documents.
CH 24: Completing the audit (Evaluate results (F/s disclosures, Audit…
CH 24: Completing the audit
Review for contingent liabilities and commitments
Evaluation of known contingent liabilities
Audit procedures for finding commitnents
Audit procedures for finding contingencies
Inquiry of client's attorneys
Final evidence accumulation
Obtain management representation letter
Consider supplementary information in relation to f/s as a whole
Evaluate going-concern assumption
Read other information in the annual report
Perform final analytical procedures
Review of subsequent events
Audit test
Review internal statements prepared subsequent to the b/s date
Examine minutes issued subsequent to the b/s date
Review records prepared subsequent to the b/s date
Correspond with attorneys
Inquire of management
Obtain a letter of representation
Dual dating
Types of subsequent events
Those that have a direct effect on f/s and require adjustments
Those that do not have a direct effect on the f/s but for which disclosure may be required
Perform additional test for presentation and disclosure
Evaluate results
F/s disclosures
Audit documentation review
Evidence supports auditor's opinion
Engagement quality review
Sufficient appropriate evidence
Summary of evidence evaluation
Communicate with the audit committee and management
Issue audit report
Subsequent discovery of facts