Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Scroll down to complete all parts of this task. Cosenzo LLP is auditing the Year 1 financial records of Pecoraro LLC, a publicly traded manufacturing
Scroll down to complete all parts of this task. Cosenzo LLP is auditing the Year 1 financial records of Pecoraro LLC, a publicly traded manufacturing company. Pecoraro has a December 31 year-end. Cosenzo performed their year-end audit during January and February of Year 2. The financial statements were issued on March 15, Year 2, the date of audit report. PART I Put a check next to the subsequent event audit procedure(s) that Cosenzo should perform during the audit. Review of post balance transactions Perform a search for unrecorded liabilities Review client bank reconciliations Review management representation letter Make inquiries of management regarding any unusual adjustments that may have been made in the month of January and February, Year 2 Review of the minutes of a stockholders meeting that took place on January 10, Year 2 Perform inventory test counts Examine the latest interim financial statements Review cash disbursement procedures for proper segregation of duties Scroll down to complete all parts of this task. Cosenzo LLP is auditing the Year 1 financial records of Pecoraro LLC, a publicly traded manufacturing company. Pecoraro has a December 31 year-end. Cosenzo performed their year-end audit during January and February of Year 2. The financial statements were issued on March 15, Year 2, the date of audit report. PART I Put a check next to the subsequent event audit procedure(s) that Cosenzo should perform during the audit. Review of post balance transactions Perform a search for unrecorded liabilities Review client bank reconciliations Review management representation letter Make inquiries of management regarding any unusual adjustments that may have been made in the month of January and February, Year 2 Review of the minutes of a stockholders meeting that took place on January 10, Year 2 Perform inventory test counts Examine the latest interim financial statements Review cash disbursement procedures for proper segregation of duties
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started