After Issuance of the Auditor's Report, the Auditor Has No

question 24

Multiple Choice

After issuance of the auditor's report, the auditor has no obligation to make any further inquiries with respect to audited financial statements covered by that report unless

• A) A final resolution of a contingency that had resulted in a qualification of the auditor's report is made.
• B) A development occurs that may affect the entity's ability to continue as a going concern.
• C) An investigation of the auditor's practice by a peer review committee ensues.
• D) New information is discovered concerning undisclosed related party transactions of the previously audited period.

---

Definitions:

Dependent Variable

The variable in an experiment or study that is expected to change in response to changes in the independent variable.

Horizontal Axis

In a graph or chart, the x-axis, typically representing time or some independent variable.

Independent Variable

In an experiment or study, the variable that is manipulated to observe its effect on the dependent variable.

Dependent Variable

A variable in an experiment or model that is expected to change in response to changes in another variable, known as the independent variable.