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Non-Adjusting Events - Audit Process
Non-adjusting events are those that are indicative of conditions such arose than the balance sheet date as a decline in the market price of investments among the balance sheet date and the date whenever the financial statements are authorized for matter.
For all material classes of non adjusting event after the balance sheet date, and an estimate of its financial effect and an entity discloses the nature of the event.
Dividends declared than the balance sheet dates are not known as a duty at the balance sheet date.
Financial statements are not prepared on a going to relate basis whether arrangement determines after the balance sheet date either such it intends to liquidate the entity or to cease trading, or such it has no realistic alternative however to do so.
The financial statements disclose the date whenever the financial statements were authorized for matter, and who provided that authorization.
Limitation of Audit Evidence The quantity and quality of evidence is constrained through the following factors as: Absolute proof is not possible; Some assert
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ILLEGAL ACTS Auditors may uncover criminal offences committed by a client or an employee of the client. This puts them in a difficult place, though the auditor must act careful
Non-Attendance at Stock Takes Whether the auditor is unable to attend a stock take, since he has numerous clients along with the same accounting date, or stock is situate at r
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