Which of the Following Procedures Would Auditors Most Likely Perform

question 38

Multiple Choice

Which of the following procedures would auditors most likely perform to obtain evidence about the occurrence of subsequent events?

• A)Confirming a sample of material accounts receivable established after year-end.
• B)Comparing the financial statements being reported on with those of the prior period.
• C)Reading minutes of meetings of owners, management, or those charged with governance held after the date of the financial statements.
• D)Inquiring as to whether any unusual adjustments were made just before year-end.

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Definitions:

Executive Agency

A governmental body under the direct authority of the executive branch, responsible for administering specific legislation.

Interest Group

An organization or group that seeks to influence public policy and decision-making to benefit their particular interests or causes.

Deposit

A deposit is a sum of money placed in a financial institution for safekeeping, which can earn interest over time, commonly used in banking for savings or checking accounts.

Beginning

The point in time or space at which something starts.