Final answer:
Audit procedures can be performed either prior to the fiscal year-end or subsequent to the fiscal year-end of the client.
Step-by-step explanation:
When can audit procedures be performed? Audit procedures can be performed either prior to the fiscal year-end or subsequent to the fiscal year-end of the client. To understand the options provided in the question, let's break it down:
A) Prior to the fiscal year-end of the client, Yes
B) Subsequent to the fiscal year-end of the client, Yes
C) Prior to the fiscal year-end of the client, Yes
D) Subsequent to the fiscal year-end of the client, No
In option A, audit procedures can be performed prior to the fiscal year-end. This allows auditors to review the financial statements and transactions that occurred before the end of the fiscal year. In option B, audit procedures can be performed subsequent to the fiscal year-end. This allows auditors to review the financial statements and transactions that occurred after the end of the fiscal year. Option C combines both options, allowing audit procedures to be performed both before and after the fiscal year-end. Option D, however, states that audit procedures cannot be performed after the fiscal year-end, which is not correct.
In summary, audit procedures can be performed either before or after the fiscal year-end of the client, or both, depending on the needs and requirements of the audit engagement.