Subsequent to the date of the financial statements,as part of post-balance sheet date audit procedures,a CPA learned that a recent fire caused significant damage to one of the client's two manufacturing facilities.However,the loss will not be reimbursed by insurance.Newspapers in the area describe the event in detail and the event is widely known.The financial statements and related notes as prepared by the client did not disclose the fire loss. REQUIRED: Which type of audit report would you suggest be issued this year and why?

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The Answer of Subsequent to the date of the financial statements,as part of post-balance sheet date audit procedures,a CPA learned that a recent fire caused significant damage to one of the client's two manufacturing facilities.However,the loss will not be reimbursed by insurance.Newspapers in the area describe the event in detail and the event is widely known.The financial statements and related notes as prepared by the client did not disclose the fire loss. REQUIRED: Which type of audit report would you suggest be issued this year and why?

Subsequent to the Date of the Financial Statements,as Part of Post-Balance