Answer(s): B
Explanation:
Choice "b" is correct. In the event of omitted audit procedures, the auditor should first attempt to
perform alternative procedures in order to ascertain whether the original opinion can be relied
upon. Choice "a" is incorrect. The auditor would only advise the client to notify all stockholders
and other financial statement users that the unqualified opinion cannot be relied upon if the
auditor cannot satisfy himself (with alternative procedures) as to the propriety of the original
opinion. Choice "c" is incorrect. The auditor may need to reissue the audit report if the auditor is
unable to satisfy himself using alternative procedures; the opinion issued should be qualified or
disclaimed, due to the scope limitation.
Choice "d" is incorrect. Tests of controls are not appropriate alternative procedures.
QUESTION: 93
Which of the following events occurring after the issuance of an auditor's report most likely
would cause the auditor to make further inquiries about the previously issued financial
statements?

A. A technological development that could affect the entity's future ability to continue as a going
concern.
B. The discovery of information regarding a contingency that existed before the financial
statements were issued.
C. The entity's sale of a subsidiary that accounts for 30% of the entity's consolidated sales.
D. The final resolution of a lawsuit explained in a separate paragraph of the auditor's report.

Answer(s): B
Explanation:
Choice "b" is correct. With respect to events occurring after the issuance of an auditor's report,
the auditor is only responsible for information that existed at the audit report date. Choice "a" is
incorrect. Since the information did not exist at the report date, the auditor has no obligation to
make any further inquiry.
Choice "c" is incorrect. Since the information did not exist at the report date, the auditor has no
obligation to make any further inquiry.
Choice "d" is incorrect. Since the information did not exist at the report date, the auditor has no
obligation to make any further inquiry.
QUESTION: 94
Wilson, CPA, obtained sufficient appropriate audit evidence to render an opinion on Abco's
December 31, X1, financial statements on March 6, X2. A subsequent event requiring
adjustment to the X1 financial statements occurred on April 10, X2, and came to Wilson's
attention on April 24, X2. If the adjustment is made without disclosure of the event, Wilson's
report ordinarily should be dated:

A. March 6, X2.
B. April 10, X2.
C. April 24, X2.
D. Using dual dating.

Answer(s): A
Explanation:

https://Free-Braindumps.com

Free AICPA CPA-Auditing Exam Braindumps (page: 45)

CPA-Auditing Exam Discussions & Posts