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What is the appropriate date for an audit report? The date required by regulators. The date...

What is the appropriate date for an audit report?

The date required by regulators.

The date the auditors were hired.

The conclusion of the gathering of evidence for the audit.

The date of the balance sheet.

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Answer #1

The correct answer for the question is Option C - The conclusion of gathering of evidence for the audit. The date on which all the data and evidence for the auditor's work and in support of the auditor's opinion are gathered is the date on which the audit report would be released. As such, it is the appropriate date for an audit report.

Option A is incorrect. The date required by regulators is not the appropriate date as the auditor would not be able to submit the financials/audit report if he/she hasnt obtained sufficient audit evidence to base an opinion on.

Option B is incorrect as the date on which auditors were hired are irrelevant in determing the appropriate date for an audit report.

Option D is incorrect as the balance sheet is the period end date and not the appropriate date for an audit report.

Please let me know if you have any questions via comments and all the best :) !

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