A Former Client Requests a Predecessor Auditor to Reissue an Audit

question 967

Multiple Choice

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.

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Definitions:

Callable Bonds

Bonds containing a call feature that allows the bond issuer the option of retiring the bonds early.

Early Retirement

Refers to the act of ending one's professional career or employment before reaching the conventional retirement age.

Bondholder

A bondholder is an individual or institution that holds the debt security issued by governments or corporations, entitling them to receive interest payments and the return of principal.

Premium

A Premium refers to the amount paid for a contract of insurance or the amount by which a bond or stock's market value exceeds its face value or par value.