CA Inter Completion and Review — practice questions
28 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice CA Inter Completion and Review in the app →Subsequent events and the auditor's responsibilities relating to them are dealt with by Standard on Auditing (Events occurring between the date of the financial statements and the date of the auditor's report are termed:A subsequent event that provides evidence of conditions that existed at the balance sheet date is a/an:A subsequent event indicating conditions that arose only after the balance sheet date is a/an:Going concern, as an audit consideration, is dealt with by Standard on Auditing (SA):Under the going concern basis, the entity is assumed to:When a material uncertainty related to going concern exists and is adequately disclosed, the auditor expressesIf a material uncertainty about going concern is NOT adequately disclosed in the financial statements, the audIf the use of the going concern basis of accounting is inappropriate, the auditor should express a/an:Written representations obtained from management are dealt with by Standard on Auditing (SA):Written representations should be dated as near as practicable to, but not after, the date of the:The evaluation of misstatements identified during the audit is dealt with by Standard on Auditing (SA):Analytical procedures performed near the end of the audit assist the auditor in forming an overall conclusion Responsibility for facts discovered after the date of the auditor's report but before the financial statementsWritten representations are a form of audit evidence but they ___ on their own constitute sufficient appropriaManagement's assessment of the entity's ability to continue as a going concern ordinarily covers a period of aIf management is unwilling to provide a requested written representation, this may cause the auditor to:An example of an adjusting subsequent event is the:The overall review of the financial statements at the completion stage primarily assesses their:If adequate disclosure about a material going concern uncertainty is made, the audit opinion remains:Inquiry of the entity's legal counsel regarding litigation and claims is typically performed during the ___ stEvents occurring after the financial statements are issued, of which the auditor becomes aware, may require thA written representation letter is signed by:Reviewing whether sufficient appropriate audit evidence has been obtained is a key activity at the ___ phase oA material uncertainty exists when events cast significant doubt on the entity's ability to:Subsequent events procedures ordinarily cover the period up to the date of the:Where the financial statements are amended due to a subsequent event, the auditor should:If management's going concern assessment covers less than twelve months, the auditor should request management