• 1 Marks

AAA – Nov 2012 – L3 – SA – Q13 – Audit Reporting

Determining the correct date to include on an audit report.

The auditor should always date the audit report on a date:

A. The financial statements were approved
B. After the directors have approved the financial statements
C. When the directors approved the audit work
D. The audit assignment was completed
E. The audit commenced

B. After the directors have approved the financial statements

Explanation:
The correct answer is “B” because the audit report should be dated after the directors have formally approved the financial statements. This ensures that the auditor’s opinion reflects the finalized financial information and that the directors take responsibility for the financial statements’ accuracy before the auditor’s report is issued

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