What Final Procedures Are Performed by the Auditor After All

question 9

Essay

What final procedures are performed by the auditor after all the necessary risk assessments and tests of management assertions have been completed?

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Definitions:

MBCA

Stands for the Model Business Corporation Act, a model set of laws prepared by the Committee on Corporate Laws of the American Bar Association to guide states in the development of their corporate statutes.

Articles of Incorporation

The legal document filed with the state government to formally establish a corporation, outlining basic details like the corporation's name, purpose, and structure.

Incorporator

An individual or entity that participates in the formation and registration of a corporation.

Preincorporation Subscriptions

Agreements made by individuals or entities to purchase stock in a corporation that has not yet been formed.