After Issuing a Report, an Auditor Has No Obligation to Make

question 356

Multiple Choice

After issuing a report, an auditor has no obligation to make continuing inquiries or perform other procedures concerning the audited financial statements, unless:

• A) Information, which existed at the report date and may affect the report, comes to the auditor's attention.
• B) Management of the entity requests the auditor to reissue the auditor's report.
• C) Information about an event that occurred after the date of the auditor's report comes to the auditor's attention.
• D) Final determinations or resolutions are made of contingencies that had been disclosed in the financial statements.

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Definitions:

Free Will

The ability of individuals to make choices that are not determined by prior causes or by divine intervention, often debated in philosophy and psychology.

Rollo May

An American existential psychologist who emphasized the importance of anxiety as a condition of living and the role of existential crisis in personal growth.

Responsibility for Actions

The accountability or duty of an individual to account for their actions, make amends, or face consequences.

Oedipus Complex

A concept in psychoanalytic theory introduced by Sigmund Freud, which posits a child's unconscious sexual desire for the opposite-sex parent and jealousy toward the same-sex parent.