Reports on Comparative Financial Statements

Question 1

If prior period Financial Statements does not have an audit report from a prior auditor the successor can

Answer 1

indicate in the Other-Matter paragraph

1) Prior F/S was audited by someone else
2) Date of last report
3) type of report issued
4) If report was other than unmodified

Question 2

Before reissuing the prior on F/S the auditor should

Answer 2

1) Read F/S
2) compare financial information
3) obtain letter of representation from successor auditor and former client’s management

Question 3

An auditor would not be able to express an opinion on the operations and cash flow due to

Answer 3

being unable to gather Balance sheet beginning balance accounts

Question 4

When is dual dating used

Answer 4

subsequent event.