Question

The nature of the specific procedures performed for the subsequent events review _______.

A. Will depend on the individual circumstances of each client.
B. Should be uniform across all clients, to increase consistency.
C. Should be agreed with management, with respect to areas to focus audit resources and effort.
D. Will be determined and handled by the internal audit function.

Answer 1

The nature of the specific procedures performed for the subsequent events review should be agreed with management, with respect to areas to focus audit resources and effort.

Step-by-step explanation:

The nature of the specific procedures performed for the subsequent events review should be agreed with management, with respect to areas to focus audit resources and effort. This means that the specific procedures will be determined in consultation with management to ensure that the audit resources and effort are directed towards the most important areas. It allows for a tailored approach that considers the individual circumstances of each client.