When financial statements of a prior period are presented on a comparative basis with financial statements of the current period,the continuing auditor is responsible for:
A)Expressing dual dated opinions.
B)Updating the report on the previous financial statements only if there has not been a change in the opinion.
C)Updating the report on the previous financial statements only if the previous report was qualified and the reasons for the qualification no longer exist.
D)Updating the report on the previous financial statements regardless of the opinion previously issued.

Question

Quizplus · Accepted Answer

When financial statements of a prior period are presented on a comparative basis with financial statements of the current period, the continuing auditor is responsible for updating the report on the previous financial statements regardless of the opinion previously issued. This ensures that the auditor's opinion reflects any new information or changes that may have occurred since the original report was issued.

When Financial Statements of a Prior Period Are Presented on a Comparative