Which of the following is least likely a procedure that would be performed by the auditor near the auditor's report date?Select one:a.Reading the minutes of the meetings of shareholders, the board of directors and audit executive committees held throughout the audit year.b.Reading the entity's latest available interim financial statements.c.Audit of subject matter informInquiring of the client's legal counsel concerning litigations and claims.d.Reviewing the procedures that management has established to ensure that subsequent events are identified.
Question
Which of the following is least likely a procedure that would be performed by the auditor near the auditor's report date?Select one:a.Reading the minutes of the meetings of shareholders, the board of directors and audit executive committees held throughout the audit year.b.Reading the entity's latest available interim financial statements.c.Audit of subject matter informInquiring of the client's legal counsel concerning litigations and claims.d.Reviewing the procedures that management has established to ensure that subsequent events are identified.
Solution
The option that is least likely to be performed by the auditor near the auditor's report date is:
c. Audit of subject matter
This is because the audit of the subject matter is a comprehensive process that involves examining the financial records and transactions of a company. This process is typically carried out throughout the audit year, not just near the report date. The other options involve reviewing documents or inquiring about information that could have changed or been updated near the end of the audit period, which is why they would likely be performed near the auditor's report
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