Namiki, CPA, is auditing the financial statements of Taylor Corporation for the year ended December 31, 2018.
Question:
Namiki, CPA, is auditing the financial statements of Taylor Corporation for the year ended December 31, 2018. Namiki plans to complete the fieldwork and sign the auditor’s report about March 10, 2019. Namiki is concerned about events and transactions occurring after December 31, 2018, that may affect the 2018 financial statements.
Required:
a. What general types of subsequent events require Namiki’s consideration and evaluation?
b. What auditing procedures should Namiki consider performing to gather evidence concerning subsequent events?
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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a For the financial statement audit the two types of subsequent events that require Namikis consideration and evaluation are Events that provide addit...View the full answer
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Related Book For 
Auditing & Assurance Services A Systematic Approach
ISBN: 978-1260687637
11th Edition
Authors: William F Messier Jr, Steven M Glover, Douglas F Prawitt
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