The date the auditor grants the client permission to use the audit report in connection with the financial statements is the:
A)Last day of significant field work.
B)Report cutoff date.
C)Report release date.
D)Representation date.

Question

Quizplus · Accepted Answer

The report release date is the date on which the auditor grants the client permission to use the audit report in connection with the financial statements. This typically occurs after all significant field work has been completed and the auditor has obtained sufficient evidence to support their opinion. The report cutoff date refers to the date up to which the auditor has obtained sufficient audit evidence, while the representation date is the date on which the management provides written representations to the auditor.

The Date the Auditor Grants the Client Permission to Use