What procedure has to be completed at or after the end of the period?
A)Assessment of control risk.
B)Engagement letter.
C)Evaluation of adjusting journal entries.
D)All procedures must be completed prior to period end.

Question

Quizplus · Accepted Answer

Evaluation of adjusting journal entries is a procedure that should be completed after the end of the period to ensure that financial statements accurately reflect the transactions of the period. Assessment of control risk and engagement letter are procedures that should be completed before the audit begins. All procedures cannot be completed prior to period end as some procedures can only be completed after the period has ended.

What Procedure Has to Be Completed at or After the End