Page 161 - AAA Integrated Workbook STUDENT S18-J19

Completion and review

After the auditor's report has been signed

 The auditor is under no obligation to perform audit procedures after the auditor's
report has been issued, however, if they become aware of a fact which would
cause them to issue a modified report, they must take action.

 The auditor should discuss the matter with management and consider if the
financial statements require amendment.

 Request management to make the necessary amendments.

 Perform audit procedures on those amendments.

 Issue a new auditor's report.

 If management do not amend the financial statements and the auditor's report
has not yet been issued to the client, the auditor can still modify the opinion.

 If the auditor's report has been provided to the client, the auditor shall notify
management and those charged with governance not to issue the financial
statements before the amendments are made.

 If the client issues the financial statements despite being requested not to by
the auditor, the auditor shall take action to prevent reliance on the auditor’s
report.

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