Author Question: Which of the following audit procedures would most likely assist an auditor in identifying ... (Read 19 times)

mimie · **on:** Aug 21, 2022

Question 1

When should auditors generally assess a client's ability to continue as a going concern?
◦ upon completion of the audit
◦ during the planning stages of the audit
◦ throughout the entire audit process
◦ during testing and completion phases of the audit

Question 2

Which of the following audit procedures would most likely assist an auditor in identifying conditions and events that may indicate there could be substantial doubt about an entity's ability to continue as a going concern?
◦ review compliance with the terms of debt agreements
◦ confirmation of accounts receivable from principal customers
◦ reconciliation of interest expense with debt outstanding
◦ confirmation of bank balances

studyforce.com · **Reply #1 on:** Aug 21, 2022

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