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NEW QUESTION: 1
Which of the following events occurring after the issuance of an auditor's report most likely would cause
the auditor to make further inquiries about the previously issued financial statements?
A. The discovery of information regarding a contingency that existed before the financial statements were
issued.
B. The entity's sale of a subsidiary that accounts for 30% of the entity's consolidated sales.
C. The final resolution of a lawsuit explained in a separate paragraph of the auditor's report.
D. A technological development that could affect the entity's future ability to continue as a going concern.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Choice "B" is correct. With respect to events occurring after the issuance of an auditor's report, the auditor
is only responsible for information that existed at the audit report date.
Choice "A" is incorrect. Since the information did not exist at the report date, the auditor has no obligation
to make any further inquiry.
Choice "C" is incorrect. Since the information did not exist at the report date, the auditor has no obligation
to make any further inquiry.
Choice "D" is incorrect. Since the information did not exist at the report date, the auditor has no obligation
to make any further inquiry.

NEW QUESTION: 2
Which is used to determine 'inherent' risk exposure?
A. Likelihood of a risk occurring after completed risk response actions
B. Effect on objectives if a risk occurs before starting to tackle risks
C. Impact of a secondary risk if it occurs
D. Proximity of a risk after implementation of risk response actions
Answer: B

NEW QUESTION: 3
When comparing competitor solutions with your HPE 3PAR StoreServ solution design, which features should you compare?
A. cost, complexity, openness
B. mesh architecture, ASIC, manageability
C. fixed cache, services cost
D. technology, strengths threats
Answer: B

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