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I learned that the auditor has a positive duty until the audit report has been “signed”.
But in BPP Revision kit, Madimade (Jun 10 amended), which relate to a scenario where the audit report has been ‘signed’ but not yet ‘issued’ and implies that the auditor has positive duty even after the report has been signed, if its not yet issued.
It states “before the financial statements are issued, the auditors have a passive duty”
So I am little confused.
It’s not too late to download the notes https://opentuition.com/acca/aa – they are searchable – try a key word like “passive” … bottom of page 30 a general explanation … and again at the bottom of page 115 in the context of subsequent events.
Although not technical terms (i.e. you won’t find them in an ISA), the ones you should see/use are “active” and “passive”.
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