A predecessor auditor should complete the following before reissuing a report on statements presented on a comparative basis:
A) Read the financial statements of the current period.
B) Read the financial statements of the past five years.
C) Obtain a letter of representations from the current-year, successor auditor.
D) Both a and c.

Question

Quizplus · Accepted Answer

The predecessor auditor should read the financial statements of the current period to assess whether there have been any significant changes or events that may affect the comparability of the financial statements. Additionally, obtaining a letter of representations from the current-year, successor auditor ensures that any issues or changes that occurred after the predecessor auditor's engagement ended are disclosed. Therefore, both options A and C are necessary steps for the predecessor auditor before reissuing a report on statements presented on a comparative basis. Option B is not necessary for the predecessor auditor to complete.

A Predecessor Auditor Should Complete the Following Before Reissuing a Report