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

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When might an audit report be dual dated?

When subsequent events occur before the report is issued.
When additional evidence is obtained regarding a specific subsequent event.
When multiple auditors are involved in the process.
When the engagement is completed but the financial statements are delayed.

The correct answer is: When additional evidence is obtained regarding a specific subsequent event.

An audit report may be dual dated when additional evidence is obtained regarding a specific subsequent event. This situation arises when the auditor has already completed their fieldwork and has issued a report but later learns of an event that occurred after the balance sheet date but before the audit report is filed. In this case, the auditor might choose to issue a dual-dated report to indicate that, while the audit was conducted up to a certain date, the additional information has been considered up to a later date. This practice clarifies which parts of the financial statements and audit findings are affected by that subsequent event, ensuring transparency for users of the financial statements. The dual date helps stakeholders understand the period during which audit evidence was obtained and the relevance of any new information disclosed after the original audit completion date.