CPA Audit Exam-Subsequent Events Simulation-Darius Clark-i75 скачать в хорошем качестве

CPA Audit Exam-Subsequent Events Simulation-Darius Clark-i75

#cpaexam #cpa #dariusclark #i75 https://course.i75cpa.com/course/dari... To an auditor, subsequent events are events or transactions that occur after the balance sheet date but before the audit report is issued. Types of Subsequent Events Type I – Recognized Subsequent Events: These provide additional evidence about conditions that existed at the balance sheet date. Require adjustments to the financial statements. Example: Settlement of a lawsuit that confirms a liability existed as of year-end. Type II – Non-Recognized Subsequent Events: These relate to conditions that did not exist at the balance sheet date but occurred afterward. Do not require adjustments to the financial statements. May require disclosure if material. Example: Natural disaster destroying a plant after year-end. Audit Procedures for Subsequent Events An auditor must perform procedures to identify subsequent events, including: Inquiries of management and those charged with governance. Reading minutes of board meetings held after year-end. Reviewing the latest available interim financial statements. Reviewing legal letters and correspondence with legal counsel.