The Auditor May Discover an Event After the Last Date

question 87

True/False

The auditor may discover an event after the last date of field work,but prior to the issuance of the report.If this event is disclosed,the auditor has no other option but to extend the review for subsequent events.

---

Definitions:

Simultaneous Loose-Tight Properties

A concept in organizational management where certain aspects of a company are controlled tightly while others are allowed flexibility, promoting innovation and adherence to core values.

Strategic Opportunities

Prospects that align with an organization's strategic plan, offering potential for significant growth or advancement.

Subsystem

A division or component of a system that fulfills specific functions within the larger system's operation.

Contingent Operation

An operation or process that is dependent on certain conditions or events, which are usually uncertain or variable.