A Standard Unmodified Audit Report Should Be Dated ________

question 42

Multiple Choice

A standard unmodified audit report should be dated ________.

• A)no later than the date when the auditor obtained sufficient appropriate audit evidence supporting the auditor's opinion
• B)no earlier than the date when the auditor obtained sufficient appropriate audit evidence supporting the auditor's opinion
• C)as at the end of the year being reported on
• D)as at the end of the year the audit work was done

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Definitions:

Disclosures

The act of making new or secret information known, typically in a formal report.

Financial Accounting Standards Board (FASB)

The private sector body given the primary responsibility to work out the detailed rules that become generally accepted accounting principles.

Securities and Exchange Commission (SEC)

A U.S. government agency that oversees securities transactions, activities of financial professionals, and the stock market to protect investors.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in net income or loss.