After the audit report release date,the auditors determine that an important auditing procedure was omitted.Which of the following initial courses of action is most appropriate?
A) Perform the omitted procedure or an alternative procedure.
B) Notify the board of directors and regulatory agencies that are currently relying on auditors' reports.
C) Determine whether the omitted procedure is important in supporting the auditors' opinion on the entity's financial statements.
D) Engage another public accounting firm to conduct a quality assurance review.

Question

Quizplus · Accepted Answer

The auditors should first determine the significance of the omitted procedure in supporting their opinion on the financial statements before deciding on further actions.

After the Audit Report Release Date,the Auditors Determine That an Important