Audit 1 (3) REPORTS ON COMPARATIVE FINANCIAL STATEMENTS

Question 1

REPORTING WITH DIFFERENT OPINIONS - Sample report

Answer 1

Please refer to W/P A1-3-1

Question 2

UPDATING (CHANGING) PRIOR OPINIONS -auditor becomes aware of evidence that affects
the prior statements and the opinion that was expressed

Answer 2

update the opinion in the current year’s report.

Question 3

UPDATING (CHANGING) PRIOR OPINIONS - Sample report

Answer 3

Please refer to W/P A1-3-2

Question 4

REPORT OF A PREDECESSOR AUDITOR - Presented

Answer 4

(1) Read the statements for the current period;
(2) Compare the FS audited with the current FS
(3) Obtain a rep. letter from the successor auditor
(4) Obtain a rep. letter from the management

Question 5

REPORT OF A PREDECESSOR AUDITOR- Date of report

Answer 5

1- Unrevised - Use the original report date

2- Revised - Dual date in the event that the predecessor auditor revises the report

Question 6

REPORT OF A PREDECESSOR AUDITOR-Not Presented - the successor auditor should indicate in the introductory paragraph:

Answer 6

1-That the FSs examined by other auditors in prior periods

2-The predecessor auditors should not be named unless the practice of the predecessors was acquired by or merged with that of the successor;

3- The date of the predecessor auditor’s report;

4-The type of opinion expressed by the predecessor auditor

5- The substantive reason(s) for other than an unqualified report.