After an Auditor Has Issued an Auditor's Report on the Financial

question 5

Multiple Choice

After an auditor has issued an auditor's report on the financial report of an entity, there is no obligation to make any further audit tests or inquiries with respect to the audited financial report covered by that report unless:

• A) new information comes to the auditor's attention concerning an event that occurred prior to the date of the auditor's report that may have affected the auditor's report
• B) material adverse events occur after the date of the auditor's report
• C) final determination or resolution was made on matters that had resulted in a modification of the auditor's report
• D) final determination or resolution was made of a contingency that had been disclosed in the financial report.

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Definitions:

Unemployment

The situation when individuals who are capable of working and are looking for a job cannot find employment.

U.S. Newspapers

Print or digital publications in the United States that provide news, analysis, opinion, and features on a variety of topics.

Money Supply

The complete aggregation of monetary assets within an economy at a particular point, including cash, coins, and the funds in checking and savings accounts.

Velocity

The rate at which money circulates within an economy, often measured as the ratio of nominal GDP to the money supply.