Question 5a
Marking Guide
up to 1 mark per valid point | |
| auditor shall perform audit procedures to identify subsequent events requiring adjustment or disclosure | |
| no need to perform additional procedures for areas already tested | |
| no obligation to perform audit procedures on financial statements after auditor’s report signed | |
| discuss with management if fact known which may have changed audit report | |
| determine if adjustments required, if so discuss with management | |
| if amended then audit adjustment, extend subsequent events testing, provide new auditor’s report | |
| max marks | 5 |