In this lesson, the focus is on understanding the auditor's responsibility for subsequent events, memorizing the timeline for such events, and comprehending the relationship between the financial statement date and the auditor's responsibility. The lesson covers both management and auditor perspectives and explains the application of a dual data report. Nick Palazzolo also shares various examples of subsequent events, such as a warehouse fire or a lawsuit, and whether they require accrual or disclosure. By the end of the lesson, the viewer should know the key examples provided and be ready to tackle questions on subsequent events in the exam.
This video and the rest on this topic are available with any paid plan.
See Pricing