The subsequent discovery of facts requiring the recall or reissuance of financial statements ________ from developments occurring after the date of the auditor's report.
A) will probably not arise
B) will not arise
C) will certainly arise
D) will probably arise

Question

Quizplus · Accepted Answer

The subsequent discovery of facts requiring the recall or reissuance of financial statements will not arise from developments occurring after the date of the auditor's report because the auditor's responsibility ends at the report date, and any events happening after that are not within the scope of the audit conducted.

The Subsequent Discovery of Facts Requiring the Recall or Reissuance