AUD Reporting · Updated November 2026
Two Years of Financial Statements but Two Different Auditors. What Happens?
Comparative presentation does not erase which auditor was responsible for which period.
Predecessor reissues
A predecessor may reissue the prior report when applicable requirements are satisfied.
Predecessor does not reissue
The successor's report can describe the prior-period audit and prior auditor's opinion as required.
Current auditor
The successor is responsible for the current audit and does not silently assume responsibility for the predecessor's old engagement.
Changed prior statements
Restatements or later events affecting the prior report require additional analysis.
The takeaway
The current auditor owns the current-period opinion. Prior-period reporting depends on whether the predecessor reissues or the successor appropriately describes the prior audit.
Related Summit guides
FAQ
Does the successor automatically audit the prior year again?
No.
Can the predecessor reissue the old report?
Potentially.
Can the successor refer to the predecessor's opinion?
Yes under applicable rules.