Audit report dating
it is known as unqualified report At the end of audit engagement, an auditor can give hisÊopinion Êin the auditor's report as either qualified or unqualified.Unqualified report is one that the auditor is satisfied that the business Êor an organisationÊhas present fairly its affair in all material aspect.In other words, it does not clarify whether they have simply to await the directors' report on the accounts or proceed with the audit work in the meantime immediately after their appointment at the last annual general meeting.The auditor's report comes at theend of the audit process and section 215 mentions nothing of the process preceding the preparation of the audit report by the auditors.Note: If the auditor concludes that a scope limitation will prevent the auditor from obtaining the reasonable assurance necessary to express an opinion on the financial statements, then the auditor's report date is the date that the auditor has obtained sufficient appropriate evidence to support the representations in the auditor's report..02 The auditor has no responsibility to make any inquiry or carry out any auditing procedures for the period after the date of his report.) occurs after the date of the independent auditor's report but before the issuance of the related financial statements, and the event comes to the attention of the auditor, the financial statements should be adjusted or the auditor should qualify his or her opinion..06 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.
The Act is apparently silent on when the auditors may commence their work of audit.WhileÊa qualified Êreport oneÊwhich theÊauditor concludes Êthat most matter have been dealt with but not sufficiently. The word auditor doesn't only mean an internal auditor but also an external auditor.An auditor could be an internal or an external auditor.dual date If a major event comes to the auditor's attention between the report date and issuance of the report, the financial statements may include the event as an adjustment or disclosure.The auditor dual dates the audit report (as of the end of workpaper review, except footnote XX, which is dated later).
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.04 In case a subsequent event of the type requiring disclosure (as discussed in AS 2801.05) occurs after the date of the auditor's report but before the issuance of the related financial statements, and the event comes to the attention of the auditor, it should be disclosed in a note to the financial statements or the auditor should qualify his or her opinion.