After an audit report containing an unqualified opinion on a nonpublic entity's financial statements is issued, the auditor learns that the entity has decided to sell the shares of a subsidiary that accounts for 30 percent of its revenue and 25 percent of its net income. The auditor should
A. Determine whether the information is reliable and, if it is determined to be reliable, request that revised financial statements be issued.
B. Notify the entity that the auditor's report may no longer be associated with the financial statements.
C. Describe the effects of this subsequently discovered information in communications with persons known to be relying on the financial statements.
D. Take no action because the auditor has no obligation to make any further inquiries.
D. Take no action because the auditor has no obligation to make any further inquiries.
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Answer the following statement true (T) or false (F)
The ________ allows a WTO member state to withdraw temporarily from its GATT obligations when there is a surge in the number of imports coming from other member states
A. escape clause B. general exception C. security exception D. indemnification clause
Client resistance can be expressed in a variety of ways; which of the following ways is detailed as the client wanting to blame others?
a. Confusion. b. Impracticality. c. Moralizing. d. Methodology.
In assessing market receptiveness, executives should typically determine whether the new technology
A. can alter the rules of competition in the industry. B. can be patented. C. has an immediate and valuable application in the short run. D. will violate the company's vision. E. is capable of drawing political support.