|Posted: 08 May 2010 at 12:13 | IP Logged
the stages in order are
planning, test controls, substantive procedures, overall review, opinion.
you have to do the overall review before you can issue the opinion. If you find unexpected results in your analytical procedures in the overall review stage, the auditor has to potentially go back and do more substantive work to base the opinion on fairness of the financial statements.
Therefore, opinion comes AFTER review.
now if you have subsequent events------------- then this requires some modification as to what gets included in the f/s or notes to f/s.... not to confuse the two.
FAR  1109 Yaeger
AUD  0510 Roger CPA
BEC  0810 Yaeger/Gleim
REG  1110 Yaeger
1year & 4months