- 1 Marks
Question
The auditors’ report should be dated on the day that the:
- A. Report is delivered to the client
- B. Field work is completed
- C. Fiscal period under which the audit ends
- D. Review of the working papers is completed
- E. Board meeting approves the accounts
Answer
E
Explanation: The answer is E. Board meeting approves the accounts. According to auditing standards, the auditor’s report should be dated as of the date when the financial statements are approved by the board. This ensures that all relevant information has been reviewed and any necessary adjustments have been made before the report is finalized.
- Tags: Audit Completion, Audit Date, Auditor's Report, Reporting Standards
- Level: Level 3
- Topic: Audit Reporting
- Series: NOV 2011
- Uploader: Dotse