For a continuing audit client,when a complete set of financial statements is presented on a comparative basis for two years,the auditors' opinion would refer to:
A)Only the current year under audit.
B)Either one or both years at the option of the auditors.
C)Each of the two years plus the preceding year.
D)Each of the years in the two-year period.

Question

Quizplus · Accepted Answer

When a complete set of financial statements is presented on a comparative basis for two years, the auditors' opinion would refer to each of the years in the two-year period. This is because the auditors need to express their opinion on the financial statements for each year separately, as financial information could differ between the two years. Therefore, the auditors' opinion would cover both years included in the comparative financial statements.

For a Continuing Audit Client,when a Complete Set of Financial