Chloe P. Araneta, CPA is an auditor for Delight, a large auditing firm in the country. She is assigned to audit the financial statements of Eala Corporation for the year ended December 31, 2022. Chloe plans to complete the field work and sign the auditor's report on April 12, 2023. Chloe is concerned about events and transactions occurring after December 31, 2022 that may affect the 2022 financial statements of Eala Corporation. 1. Describe the types of subsequent events that require Chloe's consideration and evaluation. 2. What audit procedures should be performed by Chloe to gather evidence regarding subsequent events?

Chloe P. Araneta, CPA is an auditor for Delight, a large auditing firm in the country. She is assigned to audit the financial statements of Eala Corporation for the year ended December 31, 2022. Chloe plans to complete the field work and sign the auditor's report on April 12, 2023. Chloe is concerned about events and transactions occurring after December 31, 2022 that may affect the 2022 financial statements of Eala Corporation. 1. Describe the types of subsequent events that require Chloe's consideration and evaluation. 2. What audit procedures should be performed by Chloe to gather evidence regarding subsequent events?

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter9: Auditing The Revenue Cycle.

Section: Chapter Questions

Problem 37RQSC

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