Samantha Roberts has audited the financial report of Restoration Ltd for the year ended 30 June 20X0.Although Samantha's audit fieldwork was completed on 24 August 20X0, her auditor's report was signed on 27 August 20X0 and sent to management that day.The management of Restoration Ltd advised Samantha that their annual report, which will be mailed to shareholders on 7 October 20X0, will also include an unaudited financial report for the first quarter ended 30 September 20X0.Under the circumstances, Samantha is responsible for undertaking subsequent events audit procedures through to:
A)24 August 20X0.
B)27 August 20X0.
C)30 September 20X0.
D)7 October 20X0.

Question

Quizplus · Accepted Answer

Samantha's responsibility for subsequent events audit procedures extends through to the date of her auditor's report, which is 27 August 20X0. This is because the auditor's responsibility to consider subsequent events ends on the date the auditor's report is signed, not when the audit fieldwork is completed or when the financial statements are issued to shareholders.

Samantha Roberts Has Audited the Financial Report of Restoration Ltd