An auditor issues a report dated 2/12/Year 2 on financial statements for the year ended 12/31/Year 1. Which best describes the auditor's responsibility for an event occurring on 2/1/Year 2 and an event occurring on 3/1/Year 2? A. The auditor has an active responsibility to investigate both events. B. The auditor has an active responsibility to investigate the 2/1/Year 2 event, but no responsibility concerning the 3/1/Year 2 event. OC. The auditor has an active responsibility to investigate the 2/1/Year 2 event, and must also consider the effect of the 3/1/Year 2 event if it comes to his/her attention. O D. The auditor has no responsibility for either event, since both occur after the date of the financial statements.

An auditor issues a report dated 2/12/Year 2 on financial statements for the year ended 12/31/Year 1. Which best describes the auditor's responsibility for an event occurring on 2/1/Year 2 and an event occurring on 3/1/Year 2? A. The auditor has an active responsibility to investigate both events. B. The auditor has an active responsibility to investigate the 2/1/Year 2 event, but no responsibility concerning the 3/1/Year 2 event. OC. The auditor has an active responsibility to investigate the 2/1/Year 2 event, and must also consider the effect of the 3/1/Year 2 event if it comes to his/her attention. O D. The auditor has no responsibility for either event, since both occur after the date of the financial statements.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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