All 19 Audit Report & Opinions questions
More in Audit Report & Opinions
What is an unmodified (unqualified) audit opinion? What are the types of modified audit opinions? What are the main elements of an auditor's report? Who is the auditor's report addressed to and why? When is a qualified opinion issued? When is an adverse opinion issued? When is a disclaimer of opinion issued? What is the difference between a misstatement and a scope limitation, and how do they map to opinions? What are Key Audit Matters (KAMs)? What does the Basis for Opinion section contain?
Advertisement
Auditing & Assurance › Audit Report & Opinions

What is the significance of the date of the auditor's report?

Beginner

Answer

The report date informs users of the date up to which the auditor obtained sufficient appropriate evidence, including that the statements were prepared/approved by management and the effect of subsequent events considered. The auditor cannot date the report earlier than the date they obtained sufficient evidence and management took responsibility for the statements.
Real-world example The auditor dates the report the day management approves the accounts and all evidence, including subsequent events, is in hand.

Common follow-ups: Why can't the report predate management's approval? | What does the date tell users about subsequent events?

Audit Evidence & Procedures ISA Standards Audit Report & Opinions
All 19 Audit Report & Opinions questions