Solution-Identify the audit procedures normally associated

Identify the audit procedures normally associated

Reference no: EM132813739

Question - The financial year of Sullivan & Evans Limited ended on 30 June 2020. Your auditor's report was signed on 20 August and the financial statements were issued on 5 September. Listed below are events that occurred or were discovered after the end of the financial year. Assume that each has a material effect on the financial statements.

-22 July 2020 - Sullivan & Evans Limited received a notice that one of its customers was taking legal action in relation to a disputed warranty claim. The customer purchased the goods on 31 May 2020 and first informed Sullivan and Evans of problems with the goods on 28 June 2020.

-25 August 2020 - There was a fire at Sullivan & Evans Limited warehouse which destroyed 30% of the inventory.

REQUIRED - In the box below, provide your answers to the following questions:

(a) Identify the audit procedures normally associated with subsequent events.

(b) Indicate your responsibilities for each of the above events.

Reference no: EM132813739

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Identify the audit procedures normally associated

Reference no: EM132813739

Reference no: EM132813739

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