Essay
Assume you completed your fieldwork on the XYZ Company audit of the December 31, 2025 financial statements on February 15, 2026.The financial statements were released on February 28, 2026.On March 16, 2026, you discovered that XYZ's largest customer filed for bankruptcy, which you believe could have caused you to change the audit report.How is your responsibility as an auditor, and the steps that should be taken, different than if you had been made aware of the subsequently discovered fact before February 28, 2026?
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