If comparative financial statements are presented and the present auditor has audited both years, the auditor should:Select one:a.Reissue the reportb.Update the reportc.Dual date the reportd.Redate the report
Question
If comparative financial statements are presented and the present auditor has audited both years, the auditor should:Select one:a.Reissue the reportb.Update the reportc.Dual date the reportd.Redate the report
Solution
The correct answer is b. Update the report. When comparative financial statements are presented and the present auditor has audited both years, the auditor should update the report. This means that the auditor should revise the report to include the new period. The other options, reissuing, dual dating, or redating the report, are not the standard procedures in this case.
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