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Stephen, an audit partner assigned to the audit of Rayglow Corporation is discussing subsequent events with an audit staff associate, Kendra. Kendra proceeds to ask

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Stephen, an audit partner assigned to the audit of Rayglow Corporation is discussing subsequent events with an audit staff associate, Kendra. Kendra proceeds to ask Stephen how the audit firm would evaluate subsequent events that may require disclosure by the client. Which of the following is Stephen's best response to this

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