Posted: May 24th, 2017

When an investigation of the discovery of facts existing at the report date confirms the existence of the fact and the auditor believes the information is important to those relying or likely to rely on the financial statements, the auditor should immediately:

When an investigation of the discovery of facts existing at the report date confirms the existence of the fact and the auditor believes the information is important to those relying or likely to rely on the financial statements, the auditor should immediately:

A. notify the SEC or other regulatory agency.

B. notify the audit committee.

C. take steps to prevent future reliance on the audit report.

D. resign from the engagement.