Subsequent to the Issuance of an Auditor's Report, the Auditor

question 173

Multiple Choice

Subsequent to the issuance of an auditor's report, the auditor became aware of facts existing at the report date that would have affected the report had the auditor then been aware of such facts. After determining that the information is reliable, the auditor should next:

• A) Determine whether there are persons relying or likely to rely on the financial statements who would attach importance to the information.
• B) Request that management disclose the newly discovered information by issuing revised financial statements.
• C) Issue revised pro forma financial statements taking into consideration the newly discovered information.
• D) Give public notice that the auditor is no longer associated with financial statements.

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Definitions:

B Data

Behavioral data, or direct observations of another’s behavior that are translated directly or nearly directly into numerical form. B data can be gathered in natural or contrived (experimental) settings.

L Data

Life data, or more-or-less easily verifiable, concrete, real-life outcomes, which are of possible psychological significance.

S Data

Self-report data, where individuals provide information about themselves, typically through surveys or questionnaires.

I Data

Informants’ data, or judgments made by knowledgeable informants about general attributes of an individual’s personality.