Dual dating of audit report
For example, the site cannot determine your email name unless you choose to type it.
In this instance, the amount is material because of its implications and is worth correcting.
Companies and their auditors often discover errors in prior audit reports when they're looking at the beginning balances for the next year's audit.
It's important for companies to contact interested parties as soon as possible; if the company doesn't do it, the auditors are obligated to reissue their report to relevant parties.
After issuing an audit report, auditors may realize that they didn't look at enough evidence to really vouch for the financial statements.
Audit reports vouch for the credibility of financial statements, and investors, banks and other stakeholders need accurate financial statements to make good business decisions.