Problem: Subsequent to the issuance of the financial statements, the auditor became aware of facts existing at the report date that would have affected the report had the auditor then been aware of such facts The auditor most likely should Give public notice that the auditor is no longer associated with financial statements. Request that management disclose the newly discovered information by issuing revised financial statements. Issue revised pro forma financial statements taking into consideration the newly discovered information. Determine whether persons are relying or likely to rely on the financial statements who would attach importance to the information.