Question

Performing audit procedures after the end of fieldwork _______.

A) Has no impact on the date of the audit report
B) Automatically extends the date of the audit report by 90 days
C) Automatically extends the date of the audit report by 30 days
D) Impacts the dating of the audit report.

Answer 1

Performing audit procedures after the end of fieldwork affects the dating of the audit report, as it may reveal new information requiring report amendments.

Step-by-step explanation:

Performing audit procedures after the end of fieldwork impacts the dating of the audit report. This is because additional procedures may reveal new findings that affect the financial statements and, consequently, the auditor's report.

The standard date of the audit report should correspond to the date when the auditor has completed the necessary audit procedures to form an opinion on the financial statements. If significant events or transactions occur after the original date of fieldwork but before the report is issued, the auditor must extend procedures, and this could result in amending the date of the audit report to reflect the extended procedures and their completion.