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Home Q & A Board Other Fields Homework Help Business Accounting
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jwalker824 jwalker824
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A year ago
After the balance sheet date, but prior to the issuance of the audit report, the client suffers an uninsured loss of their inventory as a result of a fire. The amount of the loss is material. The auditor should

▸ adjust the financial statements for the year under audit.

▸ add a paragraph to the audit report.

▸ advise the client to disclose the event in the notes to the financial statements.

▸ advise the client to delay issuing the financial statements until the economic loss can be determined.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
Authors:
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Cow5215Cow5215
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A year ago
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jwalker824 Author
wrote...

A year ago
Thanks
jblazah
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Yesterday
Good timing, thanks!
oscar520000
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2 hours ago
This helped my grade so much Perfect
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