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

The auditor of Pioneer Metals Ltd signed the report on 5 May. On 18 May, before issue, management amends Note 9 and the auditor performs procedures only on that amendment. The auditor wants to reflect this in the report. Which statement about dating is most appropriate under SA 560?

The auditor retains 5 May and adds a second date of 18 May restricted to Note 9. The original date shows when the audit work on the statements was completed, while the additional date tells users later procedures covered only the amendment.

  1. AReword the entire report with the date 18 May and drop 5 May
  2. BRetain 5 May for the statements and add an additional date of 18 May limited to Note 9Correct
  3. CDate the report 5 May only and mention the amendment in the engagement letter
  4. DUse 18 May for Note 9 and delete the reference to 5 May from the opinion paragraph

Explanation

Under the dual dating illustration, the original date remains because it shows when audit work on those statements was completed, while the additional date shows that later procedures were restricted to the amendment. Replacing the original date would overstate the work done after 5 May.

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