Which of the following factors should an auditor consider most important upon subsequent discovery of facts that existed at the date of the audit report and would have affected the report? The client's willingness to issue revised financial statements or other disclosures to persons known to be relying on the financial statement. The potential impact on financial statements and associated audit reports for the previous five years. The cost-to-benefit ratio of performing additional procedures to better determine the impact of the newly discovered facts. The client's willingness to pay additional fees for the additional procedures to be performed.

The client's willingness to issue revised financial statements or other disclosures to persons known to be relying on the financial statement.

Explanation:

A lot of people rely on audit reports for reassurance in a company and this is why it is quite important. This is why material information must always be reflected.

If an Auditor finds out subsequently, that information that is material and could hence have affected the report, is not included they must inquire of the management as to how they intend to resolve the issue and the MOST IMPORTANT thing they should note is if management is willing to issue revised financial statements or other disclosures to persons known to be relying on the financial statement.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

answer; microeconomics;