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Author Question: Several months after an unqualified audit report was issued, the auditor discovers the financial ... (Read 70 times)

kckanistras

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on: Aug 21, 2022
Several months after an unqualified audit report was issued, the auditor discovers the financial statements were materially misstated. The client's CEO agrees that there are misstatements, but refuses to correct them. The CEO claims that "confidentiality" prevents the CPA from informing anyone. Which of the following statements is correct?
◦ The CEO is correct and the auditor must maintain confidentiality.
◦ The CEO is incorrect, but since the audit report has been issued, it is too late to correct the report.
◦ The CEO is correct, but to be ethically correct, the auditor should violate the confidentiality rule and disclose the error.
◦ The CEO is incorrect, and the auditor has an obligation to issue a revised audit report, even if the CEO will not correct the financial statements.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by kckanistras on Aug 21, 2022

bmac98

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kckanistras

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

pratush dev

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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