What is the major difference between a reissued report and an updated report?
A)An updated report considers information that has come to the auditors' attention since the date of the original report, while a reissued report does not consider this information.
B)An updated report can be presented along with the entity's financial statements, but a reissued report cannot be presented along with the entity's financial statements.
C)An updated report will express a different opinion on the prior years' financial statements that were originally expressed by the auditors, while a reissued report will express the same opinion.
D)An updated report will not express an opinion other than an unmodified opinion, while a reissued report can express an unmodified opinion, qualified opinion, adverse opinion, or disclaimer of opinion.

Question

Quizplus · Accepted Answer

A reissued report is issued with the same content as the original report, while an updated report takes into account new information that has come to the auditor's attention since the original report was issued, and may contain additional or revised wording.

What Is the Major Difference Between a Reissued Report and an Updated