Final answer:
The oldest vertebrate fossils are believed to be sponge-like fossils called Coronacollina acula. Another recent fossil discovery in South Australia may represent the earliest animal species ever found.
Step-by-step explanation:
The oldest vertebrate fossils are believed to be sponge-like fossils called Coronacollina acula, found in South Australia. These fossils date back around 560 million years and show the existence of hard body parts and spicules. Another recent fossil discovery in South Australia, dating back around 650 million years, may represent the earliest animal species ever found.
It is important to note that these fossils represent the oldest known vertebrate fossils, but there is ongoing research and discovery in paleontology, which may change our understanding of the oldest vertebrates in the future.