A CPA firm feels that a dual-date is needed for an audit report. Which of the following is true? (Points : 2)
A dual-date is needed when the CPA firm discovers a potential misstatement and has to extend the final fieldwork to be done.
A dual-date is primarily created by going-concern problems that the reporting company is experiencing.
dual-date is needed when the reporting entity decides to make a change
in its financial statements after the audit firm has finished its
fieldwork and the entity wants the reasonable assurance provided by the
CPA firm to extend to the change.
A possible dual-date could be written as “February 27, Year Two, except for Note R, which is as of February 23, Year Two.”