Ch 16 E

An auditor accepted an engagement to audit the 20X8 financial statements of EFG Corporation and began the fieldwork on September 30, 20X8. EFG gave the auditor the 20X8 financial statements on January 17, 20X9. The auditor completed the audit on February 10, 20X9, and delivered the report on February 16, 20X9. The client's representation letter normally would be dated:

February 10, 20X9.

Whick of the following would be considered "Miscellaneous Revenue"?

Interest income from a sinking fund account.

The aggregated misstatement in the financial statements is made up of:

Known Misstatements, projected misstatements, other misstatements.

S-1 reviews are only applicable to

SEC companies

Which of the following events occuring on January 5, 20X2, is most likely to result in an adjusting entry to the 20X1 financial statements?

Settlement of litigation.

Which industry was mentioned in the text as being possibly liable for environmental contamination?

Technology.

The search for unrecorded liabilities for a public company includes procedures usually performed through the

The date of the auditors' report.

Auditors should perform audit procedures relating to subsequent events?

Through the date of the audit report.

What is a general risk contingency?

What is a general risk contingency?

The representation letter should be

dated as of the audit report.