After issuing an auditor’s report, an auditor has no obligation to make continui

Question

After issuing an auditor’s report, an auditor has no obligation to make continuing inquiries about audited financial statements unless A. A final resolution is made of a contingent liability that had been disclosed in the financial statements. B. An event occurs just after the auditor’s report was issued that affects the entity’s ability to continue as a going concern. C. Information about a material transaction that occurred just after the auditor’s report was issued is deemed to be reliable. D. Information that existed at the report date and may affect the report comes to the auditor’s attention.

Explanation / Answer

ANSWER - D. Information that existed at the report date and may affect the report comes to the auditor’s attention.

The reason :

if auditor is believing that if that information was available on the date of report, he might have issued different report than what he has issued, than that matter shall be reconsiderd and shall be investigated more.

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