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Hello,
Auditor has active duty up to the date of auditor’s report, and has passive duty after this date.
But ias 10 says events are events that occur between reporting date and when FS is autorised for issue. And auditor report date is in bewteen these.
My question is about dates between when auditors report is signed and FS is issued. what should auditor do when entity wants to amend the FS after the auditor report date and before FS is issued?
Thank you in advance.
I am on holiday this week so cannot give a detailed answer. If you look at the AAA snd/or AA notes you should find confirmation that events after the reporting date end with date the financial statements are authorised for issue – ie when management has fulfilled its responsibilities for the financial statements. The ISA is called subsequent events and the auditor’s duties extend beyond this. If auditor signs before issue and directors refused to amend the auditor would exercise his right to be heard at the AGM at which the financial statements are laid before members.
In practice this is largely avoided as directors sign FS then auditor signs auditor’s report on the same day as the AGM.
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