Question
during the current year an audit client identified a misstatement in prior-period balances and corrected the misstatement. the client included a footnote disclosure discussing the
during the current year an audit client identified a misstatement in prior-period balances and corrected the misstatement. the client included a footnote disclosure discussing the prior period error correction and properly presented all information in current comparative financial statements. How should the audit report reflect this prior period error report?
a. it should include an adverse opinion with a basis for opinion paragraph that references the error correction b. it should include a copy of the relevant footnote disclosure that discusses the details c. it should include a qualified opinion with a basis for opinion paragraph that references error correction d. it should include an emphasis of matter paragraph that references readers to the footnote disclosure regarding the error correction
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