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    AAP Chapter 10

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    AAP Chapter 10

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    AAP Chapter 10

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    Charife Malik

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    4 Reqiiag Chapter 10 eee COMPLETING THE AUDIT and ee POST AUDIT RESPONSIBILITIES - 4 Lo one de 6 hat cei ig sabe ps ‘Aesth Sekiworkisslmcat complete, a series of procedures a + Lown uacollestiieeceiabl because of ‘een cared outto complete the autThepe rocedores lade on uly sufleed by that cstomer fr de baace Withernsea ona tear res eee mc i 2) Wentifying contingencies such 4s ligation, claims and 4 Procedures to identify subsequent events ‘ei et ts Meelhaloi ones Wg anctrpeci Snes eee ed ise ey ao Toes Tee ease 2 Subsequent Event pocedies woul ordinal inhader ‘sep nh vt anon nae F abgaigatrereecsig tops poten oper ere patra lee ere is te cae F bebieincerea casa tpn i bes Seite cary fees ‘ <— creat tht obra subsoynt tte ance aa seo Rergring the mits of bound of deine ad before the date of the auditors report, Subsequent events may. - ema re ae ot Requiring Adjustment. those that provide further ‘dpe snd forecans Aa + pectic ccptteennacminipan sheet date och as lt, od sve = en pene boil ass Sn ia sialon ‘a SS Si Sarre fpr oe Loss on uncolecible receivables a8 a sesult of ‘gel conier wether such evens ne proet) customer's deteriorating financial condition, ranted for and diclosed in the financial statement ESE ert ted @ Subsequent events occ but before the Goancial statment ae eowed ‘The autor does no have any sensi er pec, ‘proces to identify sequen events vcescig ster {the date of the auditors report Dusing ths petal i the responshilty of the management to itor the ‘dior of evens dat mayafet he Branca statenents uring after the report date {the sutor becomes avare of on event curing afer the date ofthe repor: but before the isuance of the Sani statements the autor should the the necessary ‘setions ascertain whether sich eset been popes secounted for and itlosed in the testo nancial Frailre om the put of the chent to make appropiate amendments t0 the fneacial statements, whete the dior believes they need tobe amended wil cause the auditor iste ether qualfed or ndverse opin, In the event that the autor eqport as been reetsed © the entity, the auditor would nouly those persons lumatey responsible forthe over diction ofan entity fot 19 eae the fnancal statements Ifthe Geena setemente are subsequently telat the ator nes to take aco wo prevent reliance cathe aioe weport “These steps willbe dscuste i the Iter section ofthis chapter 4 Biect of subsequent events on the date ofthe report CGenealy, report should be dated a ofthe compton of the eee snkt roca, The dae of cpr Lmportant becaute i shows the date when the autor’ ‘espoashity for subsequent events ends SE cea rod pin erin agen ange ae sat pe snnce ofthe fins ttre ee the auditor 10! repos ee : epee te Se eae tae esr rg incite mie pre ices nen gi ig ae si mbes event eguing dent ie emt os re tt ic pita ele ice of te Sonne cache Guo ttonet shod be shed Site lin eps th oil ae erpow ni be eof compen of ent itech Ths bene conden sed TE Terae ice hen ds id or onal Scare ie nace peo (nthe other hand, if a subsequent event requiring sclosure oes dng ts period, the ator shoud ‘conse the adequney of discon ad should date he sport ethee 1 As ofthe date of the subsequent event ot 2 Dual dae the report (eg March 15, 2015 except {Note 1asto which the dates Mach 3, 2005) hea he i decides date ror ‘kel the aspen eres his eaposiy r be ‘pheauet ec is ended oe ‘icon th aor wl ay ave aed at Toil ntti pocednes o iene ‘se rch ay hve sep’ fa ‘gaa nt repo date pt the sew seep date Sr Rico Ihe sir doce not wart o extend his sabcgpet S22 etew procedures, sooter opine see ts ‘in is to dual de the sa one Where ea the ser the sas pty fr hes ‘rete oecing ter thecal nt tesa slimes oly tthe pei eren refed inthe te Litigation, Claims, and Assessment eis the managements responsi wo adopt polices and procedures tht wil ident, eratnt, and account for gain, cs and assent afr th prepaion of financial statements in conformiy wih applcae financial ‘porting famnework. Howes, SA SO najuse he sditor to catty out procedure io order fo become sate of 207 Aigtion and cis involving the ety wich may fave > set ffect onthe Emncal statement. Management i the primary source of information shout liggates, chins, nd siesement. The aide coeroboratee ‘he information obuined teen management Hy atkng he ‘ent to send letters of audit inquiry 0 hayes with who the cent has consulted conecing the mace The les, ‘shih shuld be prepared by the management sd sent by he tudtr, shold request dhe layer to communicate dred) © the auditor co anit the auditor in obtaining suctent tpproptiate andi evidence about material ingatons and chime Fda management five to get stor pion fomminct wi ney oper ti per hn would be comidred scope Emin hat we ‘SRL That ne es quel or dace of plone Lnyer able erie the eood of Pinon outcome cadig tb amout of or mage of ovens on one or snr es chest sd comiet ‘Spas ofa mater paragraph as onmodiied cee este enon of te Tenet of Basti Seren to this wer EE ponent vcd Ween Management Representation SA $80 ites an auditor to obtain sulcietappropeine fede dene tht te ens management Has ackrowedged that it has fled i sesponstig, fer the prepassion aod presentation of fit nang) sstenents and 1+ Has approved th Goan surements: Sach eidenc acquired by obtaining a witen cepesettion from management, The auditor shall request writes tepresinations from management with appropee ‘esponiiles for the Seana atest and kale of the maters concerned Weiten tepeecenttion ae normaly equted fiom the en cif executive ofcer an chil Financ oer, coke given peor in ens te not us suc es 4 Wilten Represenusins as Audit Evidence ‘Wen presets ate an porta source of su ike If manngemest modes or does aot pode eee wren repent, mys ees stow other es affecng the fiancad statemen Further, «request for writen, ther than ov "rein yop manga oe sriter more cou they ease ot iy. tery enhancing the iy ‘Steen on tht own abowtany ofthe mates hich ‘hey eal Earermore, the ht tht manage et rence wsten sepesentatcas doer aot fet [anagement writen Tepresentations complement the Foro and Content of Write Representations The writ pens hl be the of 4 terse from management Tae al A repression dh manageet has lied ‘epponibiy forthe peptic aed presen Of the Gnas vate acon be as ofthe engegemens ‘A sepresettin thatthe Gone ateness a Pepreed aod presented in secrtnce with he plicable nana spoing famewos, ‘represen tht enact spo he autor wih all recat inflaton green he terms ofthe engagement, ad tht al tants have ben recone td cece in he Banca + A representation that describes managements tesponbiies at decbed ithe tra of the ‘cresgement, Other epeeentaions requted by thes PSAs Basic Elements of a Written Management ‘Representation 9 The wi sepeenottion sal be mdse 0 she autor The date ofthe writen representitons shall be as ear as practicable, but not fe, the date ofthe stor report PEE Cried reseller a Perey einen representon 6 SNS the Sc ee i ce pe ee | Minagement’s Refusal to provide Writen Representations ‘hicenspeesentions sean importast outce of aut crlence If management modilis the requested waiten presentation, my alert te auditor to dhe pees, ‘het oe or ote sige sues may exist Whea management does not provide writes eeeealndons othe autor conelades that thete i Scat doubt sbout dhe integty of management the ‘ulitoesbou consider these as scope lastation that ‘wald woman disclaimer of opinion. 8 Wepap Procedures Wop-uyprocedars ae those proceies done a the end of there ht gene cannot be performed before the ote andi weeks complet. These include 2). Fin anal pocedues 9) Evan of teeny bili to conti a aging ©) Enntng sue findings and rae iad oiing cts pd Sar Ries reece cd @ Final Analytical Procedures As diseased in Chater 5, anya precedes ue sete 0 be petted nth pa al ral iw sages of the ut. Acorday NSN ‘ior hod py sea pocnduns ers ne a vel coi {0 whether the fnancalsatemets a we ae ‘onset vith the mudtertnowcle of Bosnos ‘Mentfying unusual Autuatons that were aot Previously ented. Astessing the vay ofthe coadatoas ceached and evaluating the overall finacia satement reseataton. ® Evaluation of the entiy’s ability to Continue as a sing concern ‘The ging concer assumptions fundamenta penciple {nthe pepaiton of te Banal statements Au ene continuance as going concern ie asrumed inthe ‘epanton of nance atements i the absence of {nforeaton othe conte Managements rexponsibility 14s 1 consias a explicit eqitemen for management to make a specite assessment ofthe entire sbiliy ‘0 continue as a going concern. The ancomect shoud tke into account lla information fr the foreseeable fue, which should be a lar ot ae ‘ted, welve months fom the balance sheet dtc, Sure Mo eed ios esponiily sponsibility 610 COME te The aio agement ie of ng cs per eptonot Be a Seno fra pogose wrpersld coies wert teeny 1 Teen wach my es igi Sob ag Sy we come as ging cece 4 addon, the andar should erthue * Tatapemeets sessment of the ext’ abi Tue sponge. epi eanhont orev tence [oie gong cone ounce 5 “espinal Laelia geet Soe coat et 1 ng ele gy eh + Changeinleisason orgoveement plc expe te adercy fect he entity. + Net liaiiy ore caren bay 1 Site opening Lmer + anbiiy to pay creditors onde dates + Los of joe mater, fanchise, ieee oe pine supple. he ing the eae going concen sai ‘he aor should remember thatthe condos 2 ‘eo ta my nee sgtcant doubt ato en» ‘continued existence ean be mitigated by other tO. oc example the ect ofan ens aot being ale ‘es normal debt repayments may be misgted Ser management’ pins to ain shemative means such oe + Piapoel of wees 1 Retcheatng of loan repayments or * Obraising addons capt fect om the auditor's report sin adequate cath flows by ‘After the adice has cated out the sees adi Poceiuie, obtained the sequed inforaton, sod fonsideced the effects of te management plas he shoud detenine whe oe gus med eaing song concer hve ben musbcay reed If thesis «reasonable assuance that the emt is going concern, the auditor should express ae ‘unmodified audit report. AE there ian ucetingy abou the ent sbi to fominue sr going conve, te sultry topo el depend on whether thin acest i adequtely eee! ieing mare norcatiy ea the stor shoud soe 2 unmodified ‘pinion with emphasis of «mate paragraph I te ‘ter bebeves hc th ing cone une mt ‘equate daclosds te teer should expen eee ‘ualfed opinion oadveme opinion Tf the going concera assumption snot appropriate, she financial statements should be prepared ssing thet ppropriate baie Otherwise, the auctor should tue a ‘tdveme opinion. PEE ieee ete) ‘Beating aie Gndings 20d preparing ist of ‘paca joing enti Ten ccperefer ities be Seco, tcp nao segeemnemnrmety mi teen ieee ar ee name ete aareee elena ice oerpet open re pene mre Eee Soest @ POST AUDIT RESPONSIBILITIES. Events after the ‘Snandial statements have been issued. Otay, the mitor does aot have any responsibility 1 perform adonal roceduees after the nach stents ae isued, Howerer, when the auditor becomes swate tat the asct report inued in connection with the Bac ‘sntemens may beinappropaats, Ke mast ake test Foteezelaneeon such spore ae 1 Subsequent discovery of facts The auditor bas ao obligation to make any ini ‘splng pevowly issued gan statemeats wl" le becomes sate of« material fact "which nis atthe dite of the andes asp rE Nero tc Thistle tery be ei om ie Soaac watemene When he sults Boor st of this ype of trate, be a 1, Discuss the matter withthe anpcopite level of ‘management and consider whether the fnancal statement: need revision 2. Avie management to take the neces steps to ‘cure that the users ofthe previously issued ‘Stancil statements ae informed ofthe station. the management makes the appropiate eisions and Abclosures to the uses of dhe nancial statements he ncitor should isue anew audit report that inclades fn emphasis of a mater paragraph to highlight the reason forthe revision ofthe preroul sued ancl 1s the event cht management refetes to revise the Sasori satemeats or inform the wer abot te ncaly ocovered information, the suitor shoul nosy those persons ultimate responsible forthe dieeton of the ‘ay sbout he managements ref and about is intent {0 prevent user from ryng on the au epor. Subsequent discovery of omited procedures ‘Ando ae ot reqisedt view te woking paper fee ans ep ned Howe fa ‘pen pom con rer ayant tominitaet aut recon conidend mes siccntohegne tetas unden nds al islow thes pckinee 00ks PH + ae fe nati et Fett pg a ea cnicigestnatr ee Stoeger Ey 3 Mica fampesd tink 2. Underiake to apply the omitted procedures o¢ ‘he corresponding alternative procedures, 1 eae dterrins that the omission of the fern ee sty po ‘opinion, and the auditor believes that thee ae penons cxcrety eelring, o likely to rely on the "por, therudtorshouldprompuly apply te nated procedures of the cottesponding alternative rocedies ‘afecaplyng the omined procedues,the soe ‘ctcrmines thatthe Giaancial statements a6 Imaeialy mist aad that the mustor's septs Iiappropeite the auditor should discuss the te withthe management and cake steps to peeve fuze reliance on the report SE REL Siete Reece ca ed Which ofthe falowing is procedlnes performed in They ar optional since i i i : i F ‘As auditor has the responsibility to actively search for subsequent events that oscar sibacques to the + balance sheet date due ofthe auditor’ report babace sheet dat, but prior tothe aut report A. date of the management sepreseaabon eter, “Subsequent events” for reporting parpoees ae events which oeeuraubeequent tothe A. Financ statement date b. Dat of the aditor® epot. ‘© Financial statement date but pio tothe date of the sudtors por. 4 Die of the auditors sepott and concen contingencies Which are not reflected in the Gaal statements EEE iret ected the suis petoems prota, 4. he compeng the ot the stor “ Se autre tM SC dine i aca semen Aco tenptain Tek miany about cities that conditions that ry cae beeen : ogee tim aoe imme wiceci (amc BSS 5. The auditor har completed his assesment of subsequeay ‘erent The pope accounting for sabeequent evens that have die fee on the financial stuerent i to: adj the Saanclsutements forthe year under sue ‘bdaciose inthe nots to Seancil statement the since Of the adjtmeat uly ote in the aa workpapess hat neat year’s faancal sutements eed 10 be ajuted, ‘4 ake ap adjustment ofthe Sasncial statements fre ear under sie, 6 Which ofthe folowing procedure shoul a asitr gency Poe epg subsequent event? ‘Compare the lest avaiable interim fnaacial satemess ‘eh the Gntcid satemeats being nine ‘Sed second requess othe ents customers who filed {8 tpond to intl accounts recerable confiseton gues ‘© Communicate mate weaknesses in the intemal cots! ‘odie b zucue to the cents mad comer a {he ci of hk een for seer! ot serthe exe Which ofthe allowing petform to obra wold ator monte Cogan ea Tienes shone ee 2 Recomputiny 4 sample of large-peso tans 4 Sa areal ne tanetone gating changes in stockholder’ cone ales yearend ty oceasng Inquiring of reeere Of the entity's legal counsel concerning scams, and asseremy ae nog afer yearend, eming bank accounts established set eoreod pute braces ‘eports for several days after dhe inventory date. — Review the aeaurers ool tepors temporary ‘nvesments ome, pce an vl Resting mis of Gc ad nr tgs 1, CPA is pepsng an ant program forthe pepo af aeeraining the oxetene of rbveqen sven Say ‘mgureajusunent or dace cuca oe arpeseaann, tie isch seen confry wh faa ‘poring stare Which one of the vo Soni ket oppopet fo pues 2 Conde at of he completion of el work scouts recrvable which have incensed scaly om the Yesrend de TED ie sae ofthe hol of dmc. folie mneapeet ecg roe WMI. tare occured 4. Chain leyealeom mol the cop fl ek ESE So 10, The pods belongs to respective authors aa vines iy leon ete et i rr ech any — at has establish vs mange abi ie re ei 1b Randing minutes ofthe mestings of abatholle, the een te oe oa se ay cores eats rd co a eigen = aa TLenbiemlennh ye Eeeenacondione inte renee) i es ae rom lig alc 1H A cls as a eld yearend Listed below ate four even that occurred after December 31. Which one of these subsequent events might esti ajusument ofthe December S31 Bain sacements? 4 tle of major bing 1b aopson of acelerted depreciation methods fg, Mibetoe bsnl orton of area a cle ‘olection ofthe senunts receivable existing wt December am "2 Wi fe oi Se cig see toca the ne woul ue wae Socal sateen Ste ayo ae pr Sectiprmscde opera, lets oa of ace soso Noe na ir epee ‘Stlemet of igation,in exes of the recorded aii a Sr er Alig. seu diclowurein the notes to face ste oe Mal ean se end ecelvable at iflerene ‘b settlement of recorded yearend warranty lishties at a dierent purchase of « machine 4 porchase of « busineas ‘stimated product, ‘mount han eronied 14, Amor customer ofan andi cent suf jus pre to ‘completion of yearend Geld wock. ‘The aie cast beberes that this event could have a sgnicane dict eftect om te Siancil statements. The auditor shud 4 Advise management disclose the event in ote othe financal stitemente 1b, Disclose dhe event in the auditor’ poet © Withhold submission of the auditors sepore unl the cestent ofthe dizect effect on the fnancialsatements is Known, 4. Advise management wo adjust the nancial saemeats 15, Whi ofthe following subsequent events wil be lst ely ‘0 sulin ao adjustment to the Snancil sarees? 4 Colmination of events affecting the realization of accounts receivable owned as of the balance sheet date 4 Gulmination of events affecting the realization of ‘ventores owned as of the balance sheet date. © Material changes in the tetlement of liabilities which ‘wee eximated as ofthe balance sheet date, 4 Matera changes in the quoted market pices of listed lavestmentsecuses since the Balance sheet date ESE isco cd 16 1. 8. 1c wed to eat he ez ssequ erent : rom Wrenner ct mst be HE odie inte he ned athe bance sheet de Beer Tae tga He ed of the yw he ee abeld ot be eorposted ines ts seeps norte condo eau the chang van Toke before yearend > dd not ke place uns after year-end, 2 Seamed uth fore and afer yearend S. Sittinbanabe daoogh nuance pobcicn ‘An mate completed fcldwork on February 10, 2019 fr « Decenber 31, 208 yearend cen. A significant subssuet ‘event ceuted on Febraaty 22, 2019. Ia this cas, which of the folowing epor deter would ot be appropriate? a. February 10, 2019 1b Febeaary 10, except Nowe 1, Febrasey 22,2019 Febmary 2, 2019 December 31, 2018 “The pacce of dal dating is anociaed with ‘| mbsoquent events between the balance sheet dite sod ‘he tepoct date ‘6 mbsoquent events between the balance sheet dite and the sstusnce ofthe tape ‘© ubsequeat events between the report date aod He luance ofthe seport, 4 the dscvery of mitted procedures XE snot hemi epot o Gani Sisal Dew Sa at Fa ero N Seo whh ihe ae sachs 2 ‘entry epoca f Bebsegent evens hough Maze 3, 2012 Babes crens cry teh Fee 18a 21, An antes decision con 22, An auditor esud an audit © Ml salequent eres occuring though Feary 10, 2008, aad the specie nnaurme eve tleend Nowe Shc eh 3st 4 cl th tec subsequent reed Now 5 Shoogh March 3 208 28. The pace of ding apps 2 ype of unos 1 eben evn egy dionue mbvegen vet ocr be af tees tpn. 4 sbsecent events tha oon fie the nal stitements aeiseued cerning whether oF wot to dul date as nui reports peat based on the autor decsion to ‘extead appropriate audit procedans 'B stnume responsibly for events aie the date of the auuioes eeport ‘© astume responsblty for event fom Gril yea end the date ofthe a epee, 4 salle dice and hope fora accel outcome por that was dul dated for subsequent event tht ocated after the completion of et ‘orkut before issuance ofthe auditors vepoe The sede ‘exponnibilty for events occuting subsequent neat ‘omplcon of fed work was, Lite tothe specific event efeenced 5 Limited to inca only evens och before he date Of the lst subsequent event referenced Fier sbseguen vents sccug though the die ofisatnce ofthe repo Extended to include all events occuniog sace the ‘ompleson of Geld woek 4 Een ocedis woul anautr morte 2, Whihotie flowing ocean ety robe, seer eatin : month ater the bileoe -—- ssctivity for the “~ descri Ge he caus steaney deneiag ny we Biba eer ee renter ce eer aes . ‘arent owned, pacha, a ; cy eo seedy after be ines Ge “Lite, cis ad sess py toon sion cinta 1 ee epee ome a Gents leyece Gents management eth pres autor & dottte above 25, Whencbeining evidence sping Higaton apis chen, the: ik would least interested in determining fAnestinate of when te mane wil be relred 5 Thepenedin whi te undesying nse of tr htpatin sco The probability of a unfivorale outcome al etiate ofthe potential ber 2%. an pam of btn chrono ‘managment informadon concerning ian 2 2. eter of aut inguie eo the eens ier 1h Teter of conrsboti fours the audio awe! pe ‘view of the legal documention © Catan of ir me om eo fates the ingeooe oafemation of chins and assessments For a Bett ‘the cou presiding ewes the a. ». 0, An auto should obtain eviden ial mater reer oa the fallowing factors concerning third -pacy gation ayant = eon exept he 4 Pesiod in which the undedyng use for legal sesion occured ™ ‘apoentil oon a contingent aby seme, h li coli 2. dacloed inthe notes, but not accrued. 1b esther aceued nor disclosed in notes © scerued and indicsted in the body of the Finacial closed in the auctor repo but not disclosed on the ‘nancial statements ‘Aa suitor will oxinatily examine invices om lawyers easy is ore 4 Subsentite accrual 5. Assess che legal amifcaons of lgaton ix proges Bsmt the peso amount of contingent lishiins 4. Idenify possible uassterted ligation, claims, and 1 a lawyer sefses to furnish conraborating infotmtion ‘spud lgdca cms, and ssesenenty, te uo shold 1 Honor the ontdeacaly ofthe cent ler relasoncip Comer the refs fo be» scope linitaton Seek to obtain the coxtoborsting information rom ‘+ Diclosethi ft inafoomote othe nani sae nents FFs: Digtal Aosounting Books PH ies ae | | Jc ano 92 eo ingen 3 Teena omnes poe ean 4 denis eee une iu bdo et , Sas Fe caine be docmensig, Be opportuni cumin he Secu a iain oe dele ream, [iSeeateaieg Migr, dat oS a es lesan whan ap pall og 2 i cence tt port bee ¢ eter oso Magen Whites Rprentnr 33. Atte completion ofthe si managment iste to mie 2 wate steer ot tir tt eof cp sald ‘ontnges ible: Thr senear woul spe ae 2 ngument nee rece iy eter teeta, 4 rane mangement epesentin. 3H. Which ofthe flowing tates about + write wrerennnin strc 2 Tropa 1 dear cont onl epson made by miugeet 5 ite normaly cic ih the far of he spe 38. Which ofthe follow 37, When con agin ota reason why the autor requests thatthe cient provide a ween representation? Profesional aadiingstndatdr require the auditor to obtain «writen teptesenraion, 1h Ke suesses upon management its texponsiliy for the Preparstion and fair presentation of the finencil © rer weten documento of he ol eaponss already recived pings of manageneae 4 provides weiten documentation, which i higher {ily of evidence than managements orl esponses 19 inguiies, 36, Wate speeticn edb he aioe 0 + Rei esp f he mba pal enn wok tt te her ney al wok vive alt Gini wig heaton iw by he een {orate enn ae oof sn mee & Leen esas pone bape of bane shew venocee 4. Renin mangement he pinay repos fr ttc oe fame ofthe Enna stenoses ‘nspemeat nd nw he tae eting the use of managements written ‘epresentaons as aut evidence about the vompletenc assertion, an auditor should understand sepreecations + Complement, br do ot epee, sbwante ts lesa wo seppot the scree, 1% Consitte sulin evidence to support the aserion ‘ca contin combination wide sldciony ne ‘het such PSE ner tee creed Se se cht ea “ chents mses recormmendab00s fOr interac teeters mprorements oun tps fr prong roduc: S mimeene, iepance th eonectal gey ease ca ote 1 ee Ne tpvng A. prs papoose : 2 A Poss ee oe Bee ceo oe i ee Benet ited ees 40, A repteenaion leer aed by 3 cin Ts essata forthe prepartion af dhe au progam. Ie Suber testing Does ot rece th auditors resporibbty Tadaces the andor’ responsibly cay t the ext shati srebed pen, 41 An andioe must obtain writen management rescission that ocmaly shoul be signed by ‘The president and the chairperson of the bos 1b The treasure aed the intra! auditor & Theche excuive officer and the cel financial oft 44 The comporate counsel and the audit committe anee 42. Anau mast bun wine cleat representations het ih bese by al but which ofthe folewsngs Treaster het anal ofc ee preset of operon Chad cue Sr Rien cr 4. The date of the management repeesetation lenershonld ‘ide with the date ofthe A Babace shore 4 Late inten Sunil statements © Audeo sept Late seated party tmnsction. |W A eine representation leer 4 Prepared on the CPs letetead D Addeesed to the ene Signed by high evel ofc eg, the president and chief Ginancial offer, 4d. Dated as of the cients yearend 45, Which ofthe toving woul he od mow tin sein toi pres sud proces om Be cet ‘teprezentation letter? " os eprops thf pom audit ‘ensbig Gree 3 imps yon management ee Samal satemestsneticas nT he © wremind mange of potent mitment ot |, caso ine nc see te docaen therepnses fom anegemett ingsies about various aspects of the audit ms 46, Mangoes fli ahs wanton ons mat whch the ster cone excel coe 1° una ae cde eben Preset’ a Alig se A until ope on ened cpa 4. Mop nn tito prc sod orion REESE irene etd «. wes ts Pale cnn, 1 seater ae ieee nue, + Reena ee a en * Beohecie cmon me phates Which of the following auditing proceduces ix oxdinecy pesfored bs Peering mites ofthe board of diecton’ mecting, 1 caning accounts payable ©, ebating slant epesentatin letter Eten the puzehasng fonction ‘When n ads maein econdnce with Philippine Sadat om Aig the auctor should aways 1 Document the understanding of the cient iter ‘eto sd the baie forall conciions ‘kAsootthearesed level of conte rik for finan Employ asalycal procedures as substantive sss kaa evidence about specific atsextions related 10 cou balances. (sin wien representations from management here the aking of physic iavetozy on the bln sleet dite, Spr Curae reece nee cd 31 22 Sh Which of the fellow ‘ne quarter beyond the balance shet date Re quitter bejond the dite ofthe sad pot ‘2 year beyond the balance sheet ce (ne yea beyond the dat of the ators repre ing audit procedures would most likly sist an autor in identifying condone and evens tat nay fadicate there could be substantial dealt about an eos ability to continue ata going eonecea? a a ‘evi compliant wit the terms of det apreemens

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