Exam AUD topic 1 question 150 discussion

Actual exam question from AICPA's AUD

Question #: 150
Topic #: 1

A former client requests a predecessor auditor to reissue an audit report on a prior period's financial statements. The financial statements are not restated and the report is not revised. What date(s) should the predecessor auditor use in the reissued report?

A. The date of the prior-period report.
B. The date of the client's request.
C. The date of reissue.
D. The dual-dates.

Show Suggested Answer

Suggested Answer: A 🗳️
Choice "A" is correct. The date of the prior-period report should be used as long as the FS are not restated, the report is not revised, and no significant changes have occurred that would affect the prior FS.
Choices "B" and "C" are incorrect. Using the date of the client's request or the date of reissue would extend the auditor's responsibility to that date.
Choice "D" is incorrect. The auditor may dual date the report if a material subsequent event has occurred, but dual dating is not used for reissuing a report.

by gemazyni at April 5, 2025, 4:15 p.m.

Comments

Submit Cancel

Currently there are no comments in this discussion, be the first to comment!