Procedures Used by an Auditor When Conducting a Subsequent Events

question 35

Multiple Choice

Procedures used by an auditor when conducting a subsequent events review include:

• A)reading minutes of the meetings of the board of directors.
• B)assessing continued compliance with borrowing limits and loan covenants.
• C)enquiring of those charged with governance as to whether any subsequent events have occurred that may affect the financial report.
• D)All of the above

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Definitions:

Somatic Symptom Disorder

A psychological disorder in which a person experiences physical symptoms that are not explained by a medical condition.

Illness Anxiety Disorder

A chronic condition characterized by excessive worry about having a serious illness, despite having no or minor symptoms.

Psychogenic Amnesia

Memory loss caused by psychological stress or trauma, not by neurological factors.

Organic Amnesia

A form of amnesia caused by brain injury or damage affecting memory, not linked to psychological factors.