[Anonymous]

What is the point in reissuing a financial statement if you’re not going to change anything?

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In May 20X3, an auditor reissues the auditor’s report on the 20X1 financial statements at a continuing client’s request. The 20X1 financial statements are not restated, and the auditor does not revise the wording of the report. The auditor should:

Incorrect A.

dual date the reissued report.

B.

use the release date of the reissued report.

C.

use the original report date on the reissued report.

D.

use the current-period auditor’s report date on the reissued report.

Answer C. To reissue the 20X1 auditor’s report on financial statements that have been neither restated nor revised, the auditor should use the original report date on the reissued report. Dual dating is used when a subsequent event occurs after the date of the report, but the report has not been issued. The subsequent event is disclosed in the financial statements, and the auditor’s report also includes the date of the subsequent event. Using the reissued report release date, or the current-period auditor’s report date, would extend the auditor’s responsibility for subsequent events to that date.