Carson, LLP, audited Best Corporation's financial statements for the year ended December 31, Year 1. On February 15, Year 3, Carson gave Best permission to reissue the report previously issued on and dated March 1, Year 2. When is the cutoff date for Carson's responsibility on the reissued report?
A)December 31, Year 1.
B)March 1, Year 2.
C)December 31, Year 2.
D)February 15, Year 3.

Question

Quizplus · Accepted Answer

The cutoff date for Carson's responsibility on the reissued report is the original report date, March 1, Year 2. This is because the auditor's responsibility extends to the date of the original report, not the date of reissuance or any subsequent events.

Carson, LLP, Audited Best Corporation's Financial Statements for the Year