If the auditor becomes aware of a fact that may materially affect the financial statements after the
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If the auditor becomes aware of a fact that may materially affect the financial statements after the date of the auditor’s report but before the financial statements have been issued, what should an auditor do and how may this affect the financial statements? What if a material fact is discovered after the financial statements have been issued?
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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The auditor does not have any responsibility to perform procedures or makes any inquiry regarding th...View the full answer
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Related Book For 
Principles of Auditing An Introduction to International Standards on Auditing
ISBN: 978-0273768173
3rd edition
Authors: Rick Hayes, Philip Wallage, Hans Gortemaker
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