Reference no: EM132779734

Problem 1: For subsequent events occurring during the post-audit period, auditors have a responsibility to:

Select one:

Option 1: examine only events that come to their attention.

Option 2: examine only events that come to their attention and that existed at the date of the auditor's report.

Option 3: discover and evaluate all subsequent events that may have a material effect on the financial statements.

Option 4: none of the options are correct.

Problem 2: When auditing for fraud the auditors should do all of the following except:

Select one:

Option 1: conduct a brainstorming session to discuss the risk of fraud.

Option 2: only investigate areas where all three fraud risk factors are present.

Option 3: examine journal entries and other adjustments for evidence of possible material fraud.

Option 4: consider any unusual or unexpected relationships that have been identified in performing analytical procedures