The New IAASB Auditors Report, Is Effective for Audits and Will

question 62

Multiple Choice

The new IAASB Auditors report, is effective for audits and will be mandatory for listed companies for audits with year ending

• A) 31 December 2017.
• B) 31 December 2016.
• C) 31 December 2015.
• D) 31 December 2014.

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Definitions:

February

The second month of the year in the Gregorian calendar, known for having 28 days in common years and 29 days in leap years.

Variable Overhead Efficiency Variance

A measure of the efficiency in which variable overheads are used, calculated by comparing the standard cost of variable overhead for actual production to the actual variable overhead incurred.

January

January, which stands as the opening month of the year according to the Gregorian calendar.

January

January is the first month of the year in the Gregorian and Julian calendars.