An Auditor Issued an Audit Report That Was Dual Dated

question 1007

Multiple Choice

An auditor issued an audit report that was dual dated for a subsequent event occurring after the original date of the auditor's report but before issuance of the related financial statements. The auditor's responsibility for events occurring subsequent to the original report date was:

• A) Limited to include only events occurring up to the date of the last subsequent event referenced.
• B) Limited to the specific event referenced.
• C) Extended to subsequent events occurring through the later date.
• D) Extended to include all events occurring since the original report date.

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Definitions:

Liability

The state of being responsible for something, especially in terms of legal or financial obligations.

Express Authority

is explicitly granted permission or power given to an agent or representative by a principal or employer to act on their behalf.

Detailed Language

The use of precise and specific terms in communication or documentation to ensure clarity and reduce ambiguity.

Apparent Authority

A situation where a third party reasonably believes that an agent has the authority to act on behalf of a principal, even if the agent does not have such authority.