speed dating chicago 20s - Example dual dating audit report

Sometimes, the date is a matter of judgment (see Techniques for Application).

It is the date up to which the auditor is responsible for keeping informed about events affecting the financial statements being reported on.: “Reissued report” is used to refer broadly to subsequent reprinting by the auditor of a prior audit report with release to the client as well as reuse by the client in conjunction with issuance of a new document of a prior report.

His last position, in the corporate world, was a controller for a corporation in Costa Mesa, CA.

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.

If the client is furnished with additional copies of a previously issued report, the auditor has no responsibility to perform any procedures prior to reprinting the report unless the auditor has become aware of the need to adjust or make disclosure in the financial statements.

If the auditor dates the report as of the date of the subsequent event rather than dual dating the report he or she should extend the subsequent events review to that date.

When the auditor reissues the report and uses the original report date, he or she does not have to investigate or inquire about events affecting the financial statements reported on that may have occurred between the original date and the reissuance date.

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.

Its purpose is to determine whether the financial statements being reported on require adjustment or additional disclosures.

: If the auditor is a continuing auditor, the report has to be updated.

If the auditor is a predecessor auditor and the client is reusing the report, additional procedures are required, including a requirement to obtain an updating representation letter from management and a representation letter from the successor auditor.

The date is usually the same as the date of the management representation letter and the date up to which lawyers are asked to respond concerning litigation, claims, and assessments.

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