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Hi Gormit,
Is there any difference in the auditors responsibilities and procedures in context to the facts discovered after the date of audit report but before issuing the financial statement and Facts discovered after the financial statement have been issued?
Please explain in detailOnce the audit report is signed the auditors duty changes from active (look for problems) to passive (if you notice any problems consider acting).
Whether or not the FS have been issued makes no fundamental difference, but if new FS have to be prepared it is easier (and less embarrassing) if the old ones have never been issued. If the old ones had been issued, new ones should be issued to replace them.
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