Completing the Audit Assignment Example | Topics and Well Written Essays - 250 words - 1

Completing the Audit - Assignment ExampleThe auditor may cast away audit opinion, if the effect of managements refusal to provide written representation is material but not pervasive. However, if the effect of such refusal is pervasive, the auditor may forswear his/her opinion. The auditor may overly withdraw from engagement if he thinks it appropriate and the legislative authority permits him to do so.All events occurring after the date of Financial Statements ar referred to as subsequent events. Subsequent events that occur after Financial Statements date but the condition existed at the Financial Statements date are called adjusting events. Those events require valuation account in the Financial Statements. Subsequent events that occur after the date of Financial Statements but the condition did not existed at the date of the Financial Statements are called non-adjusting events. attendant is required to perform cut-off procedures to evaluate subsequent events effects. He may also obtain managements representation regarding subsequent events. The auditor may also perform other audit procedures such as inquiring entitys personnel, reading latest available interim Financial Statements and reading minutes of shock of Board of Directors.1. Interim Standards Copyright. Auditing. Public Company Accounting Oversight Board. American Institute of Certified Public Accountants, Inc, 2003-2013. Web. 15 April. 2013.