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CA Final · Advanced Auditing, Assurance and Professional Ethics · Completion and Review

For Ramesh Auto Ltd, a subsequent-events event after the audit report date led management to amend Note 20 only. The auditor wishes to restrict the additional audit procedures to this amendment, in a way permitted by SA 560. What is the effect on the report?

When the restricted-amendment circumstances apply, the auditor may amend the report or issue a new one. If the report is amended, the original date is retained and an additional date, restricted to the amendment, is added to show that later procedures were limited to it.

  1. AThe auditor may amend the report or provide a new one, and if amended, an additional date restricted to the amendment is includedCorrect
  2. BThe auditor must withdraw from the engagement
  3. CThe original report remains in force with no change
  4. DThe auditor must re-perform the whole audit before reporting

Explanation

Where the circumstances in paragraph 12 apply, SA 560 para 15(d) allows the auditor to amend the report or provide a new report. If amended, the original date stays and an additional date restricted to the amendment is added (A13 dual dating). Re-performing the whole audit is not required.

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