The Lapse of Time Between the Balance Sheet Date and the Presentation

question 8

Multiple Choice

The lapse of time between the balance sheet date and the presentation of the audit report:

• A) may be up to four months
• B) is on average two months
• C) is not a problem as the auditor is required to undertake a review of subsequent events
• D) is increasing over time because of the greater number of auditing standards that now apply to audits

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Definitions:

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