An Auditor's Decision Concerning Whether or Not to Dual Date

question 75

Multiple Choice

An auditor's decision concerning whether or not to dual date an audit report is primarily based on the auditor's decision to

• A) extend appropriate audit procedures.
• B) assume responsibility for events after the date of the auditor's report.
• C) assume responsibility for event from fiscal year-end to the date of the audit report.
• D) roll the dice and hope for a successful outcome.

---

Definitions:

Professional Conduct

The standards of behavior and ethical practices expected of individuals in a professional context.

Fraud

Fraud is a deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Standard of Care

The degree of attention, caution, and prudence that a reasonable person in a particular situation would reasonably be expected to exercise.

Auditing Standards

The set of guidelines and criteria established for auditors to follow when conducting financial audits.