The lapse of time between the balance sheet date and the presentation of the audit report:
A) may be up to four months
B) is on average two months
C) is not a problem as the auditor is required to undertake a review of subsequent events
D) is increasing over time because of the greater number of auditing standards that now apply to audits

Question

Quizplus · Accepted Answer

The Answer of The lapse of time between the balance sheet date and the presentation of the audit report:
A) may be up to four months
B) is on average two months
C) is not a problem as the auditor is required to undertake a review of subsequent events
D) is increasing over time because of the greater number of auditing standards that now apply to audits

The Lapse of Time Between the Balance Sheet Date and the Presentation