You were the auditor for MWK Ltd. from 20X7 until December 31, 20X0, when a new auditor was appointed. MWK has decided to “go public,” and the new auditor has advised you that the financial statements you audited for the three years ended December 31, 20X0, are to be included in the soon-to-be issued prospectus. What are your professional responsibilities with regard to the financial statements to be included in the prospectus? What does the auditor comment on when engaged to examine a financial forecast included in a prospectus? What does the auditor disclaim an opinion on and why?

Answer rating: 100% (QA)

Auditors professional responsibilities 1To report to the shareholders on the annual general meeting ... View the full answer