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

Completing the Audit - Assignment ExampleThe auditor may qualify audit opinion, if the emergence of managements refusal to provide written representation is material but not pervasive. However, if the effect of such refusal is pervasive, the auditor may disclaim his/her opinion. The auditor may also withdraw from engagement if he thinks it stamp down and the legislative authority permits him to do so.All events occurring after the period of pecuniary Statements are referred to as consequent 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 adjustment 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.Auditor is required to practice cut-off procedures to evaluate ulterior events effects. He may also ob tain 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 meeting of Board of Directors.1. meantime Standards Copyright. Auditing. Public Company Accounting Oversight Board. American Institute of Certified Public Accountants, Inc, 2003-2013. Web. 15 April. 2013.