Assume that the auditor report date is February 20,2019 and audit report release date is...
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Assume that the auditor report date is February 20,2019 and audit report release date is February 22, 2019. Subsequent knowledge of which of the following would cause the entity to make footnotes disclosure in its December 31,2018 financial statements? (Assuming that the dollar amount is material in each situation) On January 31,2019 , the auditor learned that a fire destroys the inventory valuing at $500,000 on January 30,2019. Settlement of a damage lawsuit for a customere ms injury sustained on April 15, 2019 for $200,000. Settlement of litigation on February 10,2019 for $100,000, the lawsuit was initially filed on May 6,2018 and the client originally estimates a loss of $12,000 in its 2018 financial statements. Storm damage of $1 million to the client Ms buildings on March 15, 2019
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