The date of the audit opinion of Upton Industries, Inc. reads: March 7, 2014 except for Note D, as to which the date is March 12, 2014. What is this an example of?
A) Improper reporting.
B) A GAAP violation.
C) Dual dating.
D) A contingent event.

Question

Quizplus · Accepted Answer

This is an example of dual dating, where the auditor issues one date for the overall audit opinion and a later date for a specific matter that needed additional work or was not resolved at the time of the initial audit opinion. This is a common practice in auditing when there are subsequent events or additional information that arises after the initial audit report is issued.

The Date of the Audit Opinion of Upton Industries, Inc