A1 - Events Occurring After Year-End

Question 1

After becoming aware of facts existing at the report date that would have affected the report had the auditor then been aware of such facts, what are an auditors next steps?

Answer 1

To determine whether the information is reliable and then whether anyone is relying, or likely to rely, on the information

Question 2

If an adjustment is made concerning subsequent events, without disclosure of the event, how should the auditors’ report ordinarily be dated?

Answer 2

Using the original report date; only use dual dating if the event is disclosed

Question 3

What is dual dating?

Answer 3

When an event occurs after the report date and the auditor is only taking responsibility for that event, not all events that may have occurred, up to the date of the second disclosure (ex. January 21, 2002, except as to Note 2, which is as of February 3, 2002)