An auditor is concerned with completing various phases of the examination after the balance sheet date.This "subsequent period" involving formal audit procedures extends to the date of the
A) auditor's report.
B) final review of the audit working papers.
C) public issuance of the financial statements.
D) delivery of the auditor's report to the entity.

Question

Quizplus · Accepted Answer

The subsequent period of an audit, which involves formal audit procedures, extends up until the date of the auditor's report. This is because the auditor needs to ensure that any events or transactions occurring after the balance sheet date but before the report's issuance are appropriately reflected in the financial statements. This is known as the "dual-dating" of the auditor's report.

An Auditor Is Concerned with Completing Various Phases of the Examination