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 auditors report about March 10, 2019. Namiki is concerned about events and transactions occurring after December 31, 2018, that may affect the 2018 financial statements.

Please answer both parts (:

Required:

a. What general types of subsequent events require Namikis consideration and evaluation?

b. What auditing procedures should Namiki consider performing to gather evidence concerning subsequent events?