Subsequent to the Issuance of the Audit Report,the Auditor Became

question 2

Multiple Choice

Subsequent to the issuance of the audit report,the auditor became aware of facts existing at the report date that would have affected the report had the auditor then been aware of such facts.After determining that the information is reliable,the auditor should ________.

• A)determine whether there are persons relying or likely to rely on the financial statements who would attach importance to the information
• B)request that management disclose the newly discovered information by issuing revised financial statements
• C)issue revised pro forma financial statements taking into consideration the newly discovered information
• D)give public notice that the auditor is no longer associated with the financial statements

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Definitions:

Elite Theory

A theory in political science and sociology, which suggests that society is divided between a small ruling elite and the masses or the majority.

Political Jobs

Positions within the government or associated organizations that are often appointed based on political affiliation rather than merit or civil service exams, typically involving policymaking or political support roles.

Bill of Rights

The initial ten amendments of the United States Constitution, adopted in 1791, ensure rights including the freedom of speech, assembly, and religious practice.

Political Ideology

A set of ethical ideals, principles, doctrines, myths, or symbols of a social movement, institution, class, or large group that explains how society should work.