A10 Other & Supplementary Information Flashcards
Other information
Refers to financial & nonfinancial info other than audited FS/auditor report. Examples include mgmt discussion, analysis, or reports.
Auditor & Other Information
The auditor is required to read other information and consider if its materially inconsistent with the audited FS. If this info is not consistent and doesn’t require revision the auditor can request the info be revised. Other info appears after the explanatory paragraph (issuers) or near the EOM paragraph in a separate section (nonissuers) if they choose to include one because these are optional.
Supplementary Information
Audit procedures for supplementary info requires evaluation on how its been prepared & its appropriateness, in addition to tests and verification by the auditor.
Audited Supplementary Info
When info accompanying the basic FS has been subjected to audit procedures, the auditor may include in their report an opinion on the info that it is fairly stated in all material respect in relation to the FS as a whole. This statement appears in the Supplementary Info or explanatory paragraph section or in a separate report as a separate section in the FS.
