The 'authorisation date' for entities that are not companies is:
A) When the auditor signs the audit report.
B) When the financial reports are signed off by the accountant in the presence of the auditor's representative.
C) When the financial reports are accepted by the taxation office.
D) When the reports are given final approval by the governing body or management of the entity, whichever is applicable.
E) None of the given answers.

Question

Quizplus · Accepted Answer

For entities that are not companies, the authorisation date is when the reports are given final approval by the governing body or management of the entity, whichever is applicable. This is because these entities do not have a specific process for signing off on financial statements like a company would with its board of directors or shareholders. The auditor may only sign off on the report after it has been authorized by the appropriate parties within the entity.

The 'Authorisation Date' for Entities That Are Not Companies Is