A predecessor auditor should complete the following before reissuing a report on statements presented on a comparative basis:
A) Read the financial statements of the current period.
B) Read the financial statements of the past five years.
C) Obtain a letter of representations from the current-year, successor auditor.
D) Read the financial statements of the current period and obtain a letter of representation from the current-year, successor auditor.

Question

Quizplus · Accepted Answer

Before reissuing a report on statements presented on a comparative basis, the predecessor auditor should read the financial statements of the current period and obtain a letter of representation from the current-year, successor auditor. This will help the predecessor auditor to update their knowledge about the entity's financial statements and ensure that there are no material misstatements or misrepresentations. Reading the financial statements of the past five years or obtaining a letter of representations from the current-year, successor auditor will not be sufficient in ensuring the accuracy and completeness of the comparative financial statements.

A Predecessor Auditor Should Complete the Following Before Reissuing a Report