Question

An auditor's decision concerning whether or not to "dual date" the audit report is based upon the auditor's willingness to?

1) extend auditing procedures.
2) accept responsibility for all events between year-end and the audit report date.
3) permit inclusion of a footnote captioned: event (unaudited) subsequent to the date of the auditor's report.
4) assume responsibility for events subsequent to the issuance of the auditor' report.

Answer 1

An auditor's decision to dual date the audit report is based on their willingness to accept responsibility for all events between year-end and the audit report date.

Step-by-step explanation:

An auditor's decision concerning whether or not to dual date the audit report is based on the auditor's willingness to accept responsibility for all events between year-end and the audit report date. Dual dating refers to the practice of using two dates on an audit report, indicating that the auditor's responsibility extends to events subsequent to the year-end. By dual dating the report, the auditor acknowledges that they are assuming responsibility for any events that occur between the year-end and the audit report date.