Auditing and Attestation- Certified Public Accountant (CPA) Practice Exam -

What describes the earliest date for an auditor's report?

1. The last day of audit fieldwork.

2. The date the auditor has obtained sufficient appropriate audit evidence.

3. The date audit documentation was completed.

4. The date all audit procedures have been completed.

The correct answer is: The date the auditor has obtained sufficient appropriate audit evidence.

The earliest date for an auditor's report is best described as the date the auditor has obtained sufficient appropriate audit evidence. This is because the auditor must gather and evaluate evidence to support their opinion on the financial statements. Until sufficient appropriate evidence has been collected, the auditor cannot appropriately conclude the audit and issue a report. The timing is critical because the audit opinion is heavily reliant on this body of evidence. Obtaining sufficient appropriate evidence signifies that the auditor has performed the necessary procedures and has arrived at a basis for the audit opinion. Other factors, such as completing documentation or audit fieldwork, are important for the audit process but do not necessarily represent the completion of the auditor's substantive work needed to support their report. These activities can occur after sufficient evidence has been gathered. Therefore, this timing highlights the importance of evidence in the audit process and establishes when the auditor can issue their opinion confidently.