Auditing and Attestation - Certified Public Accountant (CPA) Practice Exam 2025 - Free CPA Practice Questions and Study Guide

The appropriate action for a CPA who learns of a material loss after issuing an unmodified opinion is to determine if the prior opinion remains appropriate. This means assessing whether the newly discovered information would have changed the CPA’s opinion on the financial statements. If the loss is material and requires adjustment, it could influence how stakeholders perceive the financial health of the organization. Therefore, the CPA must evaluate if the financial statements still present a true and fair view of the company's financial position or if their opinion needs to be updated or possibly retracted.

The other choices involve actions that may not be necessary or appropriate without first determining the relevance of the material loss to the previously issued opinion. Discussions with management, notifying creditors, or contacting the board of directors may come after confirming the continued appropriateness of the original opinion. Thus, the proper course of action is to reassess the prior opinion in light of the new information.