Financial filings may also run late because auditors will need time to learn a new client's business.

Boards and auditors need to be vigilant to ensure that any inappropriate actions are avoided.

And a new auditor needs to be found.

The auditor needs to check if the report that has been sent (and received) is complete and in time.

The auditor just needs to check -with help of software tools- that the right taxonomy is used.

The auditor needs to validate the custom (extension) taxonomy, a secondary audit object.

This is because the auditor needs evidence that can be related to comfort letter procedures.

An external auditor will need to carry out detailed checking of records and procedures.

And yet the effective auditor needs to understand management and to have a close working relationship with the managers.

When performing the actions listed above, auditors need to consider the key objectives from each audit procedure.