When an investigation of the discovery of facts existing at the report date confirms the existence of the fact and the auditor believes the information is important to those relying or likely to rely on the financial statements, the auditor should immediately:

take steps to prevent future reliance on the audit report.

resign from the engagement.

notify the audit committee.

notify the SEC or other regulatory agency.

Answer rating: 100% (QA)

Steps to Prevent Future Reliance on the Audit Report 01 The strategies defined on this phase need to be accompanied through the auditor who next to the date of the document upon audited economic state... View the full answer