Category - cumshot
The auditor may use dual dating, for example, febru-ary 16, 20, except for note , as to which the date is march 1, 20, or may date the report as of the later date. 05 the independent auditor has two methods for dating the report when a subsequent event disclosed in the financial statements occurs after the auditor has obtained sufficient appropriate evidence on which to base his or her opinion, but before the issuance of the related financial statements. The independent auditor has two methods for dating the report when a subsequent event disclosed in the financial statements occurs after the auditor has obtained sufficient appropriate evidence on which to base his or her opinion, but before the issuance of the related financial statements. A note to the financial statements should disclose the new financial information and the financial statement impact, and include a statement that audit procedures applied subsequent to the original audit report date were limited solely to the revised financial information. Financial statements effective for auditors reports dated on or after 31 december 2006 but prior to the audits of financial statements for periods beginning on or after 15 december 2009. Dual date if a major event comes to the auditors attention between the report date and issuance of the report, the financial statements may include the event as an adjustment or disclosure. (1) example of dual dating january 21, 20x2, except for note 2, as to which the date is february 3, 20x2. Alternatively, a later date may be used for the report, but this extends the auditors responsibility for all subsequent events to this later date. If adjustments are made to the financial statements without any footnote disclosure, the original date of the report should be used. the specific question asked of the committee was whether ias 10 permits an entity to dual date its financial statements for the purpose of updatingincorporating subsequent eventscomparative changes as of a date later than the date the financial statements were originally authorised for issue. Financial statements, by nature, are not precise since they include certain amounts based upon estimates and judgments. When alternative methods exist, management has chosen those it deems to be the most appropriate in the circumstances. 167 section 80 of ssars 21 does not include guidance on reporting on comparative financial statements. Requirements with respect to reporting in a review engagement when the prior period was audited is included in paragraph.