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If the Auditor Amends the Financial Statements Due to Subsequent

question 43

Essay

If the auditor amends the financial statements due to subsequent events what further actions are necessary?
What are the auditor's options if management refuses to amend the financial statements, where the auditor believes they should be amended, when?
1. the auditor has not released the report to the entity.
2. the auditor has released the report to the entity.


Definitions:

Decay

The process of gradual deterioration or the breakdown of organic matter, or, in terms of memory, the fading of information over time when it is not actively maintained or rehearsed.

Retrieval

The process of getting information out of memory storage and back into conscious awareness.

Retention

The ability to hold onto or keep information in the memory over time.

Acquisition

The act of acquiring or gaining possession, often referring to knowledge, skills, or assets.

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