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Wiley Practitioner's Guide to GAAS 2023, 2nd Edition
book

Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

by Joanne M. Flood
April 2023
Intermediate to advanced content levelIntermediate to advanced
1056 pages
34h 59m
English
Wiley
Content preview from Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

26AU-C 585 Consideration of Omitted Procedures after the Report Release Date

SCOPE

AU-C 585 provides guidance when the auditor realizes after the report release date that one or more necessary auditing procedures were omitted. (AU-C 585.01) AU-C 585 does not apply when the auditor's work is an issue in a threatened or pending legal proceeding or regulatory investigation. (AU-C 585.02)

Section 560, Subsequent Events and Subsequently Discovered Facts, provides guidance when the auditor becomes aware, subsequent to the date of the report on the audited financial statements, that facts may have existed at that date that might have affected the financial statements or the audit report had the auditor been aware of those facts. These facts usually relate to the financial statements and whether those financial statements are presented fairly in all material respects in conformity with generally accepted accounting principles (GAAP).

Section 560 applies to facts that indicate possible misstatement of financial statements, ...

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Wiley Practitioner's Guide to GAAS 2022

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Publisher Resources

ISBN: 9781394152704Purchase Link