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szehim2009 szehim2009
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A year ago
The audit firm issues an audit report for its client. The auditors have no obligation to make further inquiries with respect to the client's audited financial statements unless

▸ a development occurs that may affect the company's long-term viability as a company.

▸ final resolution was made on disclosed contingency for which no liability needed to be accrued.

▸ new information comes to the auditor's attention concerning an event that occurred prior to the date of the audit report that, if known, would have impacted the audit opinion.

▸ a lawsuit, in which the risk of loss was considered remote, was resolved in the company's favor.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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pipi123pipi123
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A year ago
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szehim2009 Author
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This calls for a celebration Person Raising Both Hands in Celebration
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Smart ... Thanks!
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Just got PERFECT on my quiz
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