Subsequent events refer to _______.
A)events occurring between the date of the financial statements and the date of the auditor's report
B)events occurring before the financial statement date
C)events occurring after the financial statement date
D)events occurring after completion of the audit and issuance of the audit report

Question

Quizplus · Accepted Answer

Subsequent events refer to events occurring between the date of the financial statements and the date of the auditor's report. These events may require adjustment to the financial statements, disclosure in the footnotes, or even revision of the auditor's report. It is important for auditors to perform procedures to identify and evaluate subsequent events to ensure the financial statements are accurate and complete.

Subsequent Events Refer to _______