The auditors' search for unrecorded liabilities is completed:
A)During an interim period.
B)At the balance sheet date.
C)Subsequent to the balance sheet date.
D)At any time during the examination.

Question

Quizplus · Accepted Answer

The search for unrecorded liabilities is typically completed subsequent to the balance sheet date. This allows auditors to identify any liabilities that were not recorded as of the balance sheet date but should have been, based on the information available up to the date of their review.

The Auditors' Search for Unrecorded Liabilities Is Completed