Audit report correct error dual dating
See section 561 regarding procedures to be followed by the auditor who, subsequent to the date of his report upon audited financial statements, becomes aware that facts may have existed at that date which might have affected his report had he then been aware of such facts.
Many of you question about dating in independent’s auditor report and related issue. On other hand SAS 29, created a difference in responsibilities for types of reissued reports.
Under ordinary conditions, the auditor should date his or her report as of the date of completion of fieldwork.
The auditor does not have to make inquiries or apply other auditing procedures after the date of his or her report under ordinary conditions. A subsequent events review is the auditor’s review of transactions and events occurring after the date of the balance sheet and up to the date of the auditor’s report.
In the case of a predecessor auditor consenting to reuse a previous report, additional procedures are always required.
An independent auditor may reissue his report on financial statements contained in annual reports filed with the Securities and Exchange Commission or other regulatory agencies or in a document he submits to his client or to others that contains information in addition to the client's basic financial statements subsequent to the date of his original report on the basic financial statements.
An independent auditor may also be requested by his client to furnish additional copies of a previously issued report.
[As amended, effective September 2002, by Statement on Auditing Standards No. For audits of fiscal years beginning before December 15, 2010, click here.] The independent auditor has two methods for dating the report when a subsequent event disclosed in the financial statements occurs after the auditor has obtained sufficient appropriate evidence on which to base his or her opinion, but before the issuance of the related financial statements.
98.] [The following paragraph is effective for audits of fiscal years beginning on or after December 15, 2010. The auditor may use "dual dating," for example, "February 16, 20__, except for Note __, as to which the date is March 1, 20__," or may date the report as of the later date.