In short
The auditor's report is dated no earlier than the date the auditor has obtained sufficient appropriate evidence, including evidence that the full statements and disclosures have been prepared and that management has taken responsibility for them.
Key takeaways
- The management representation letter is dated as of the report date.
- The auditor's subsequent events procedures run up to the report date.
- Facts found later may lead to dual dating.
Where it's tested
AUD: Audit Reports — study notes, a five-minute revision sheet and practice questions.
Practise: 3 questions
Question 1 of 3 · 0 answered
An auditor is unable to observe the physical inventory count or satisfy themselves through alternative procedures, and inventory represents 60% of total assets. What opinion is appropriate?