Cutoff for acquisitions of insurance is normally not a significant problem for the auditors.

Question

Quizplus · Accepted Answer

The cutoff for acquisitions of insurance is generally not a significant issue for auditors because insurance policies are typically prepaid expenses that cover future periods, and the primary concern is ensuring these prepayments are allocated correctly over the coverage period, rather than the exact timing of the acquisition.

Cutoff for Acquisitions of Insurance Is Normally Not a Significant