Roll-Forward Procedures Are Performed

question 59

Multiple Choice

Roll-forward procedures are performed

• A) to update the audit findings from the time of the interim procedures through to year end.
• B) to detect fraud in various balance sheet accounts.
• C) before the end of the financial year.
• D) none of the above

---

Definitions:

Personal Income Tax

A tax levied on individuals or entities based on their income or profit earned.

Taxable Income

The portion of an individual's or corporation's income upon which taxes are assessed, after allowances for deductions and exemptions.

Total Tax

The combined amount of all taxes imposed by different levels of government on individuals or businesses.

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (taxable income or spending), expressed as a percentage.