Mead, CPA, had substantial doubt about Tech Co.’s ability to continue as a going concern when reporting on Tech’s audited financial statements for the year ended June 30, 20X1. That doubt has been removed in 20X1. What is Mead’s reporting responsibility if Tech is presenting its financial statements for the year ended June 30, 20X2, on a comparative basis with those of 20X2?
a. The emphasis-of-matter paragraph included in the 20X2 auditor’s report should not be repeated.
b. The emphasis-of-matter paragraph included in the 20X2 auditor’s report should be repeated in its entirety.
c. A different emphasis-of-matter paragraph describing Mead’s reasons for the removal of doubt should be included.
d. A different emphasis-of-matter paragraph describing Tech’s plans for financial recovery should be included.