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 Please let me know what are the auditor’s...

 Please let me know what are the auditor’s responsibilities in respect of corresponding figures?

 Please let me know what are the auditor’s responsibilities in respect of corresponding figures?

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Chiranjibi Aug. 30, 2018

Auditor’s Responsibilities in Respect of Corresponding Figures:

As per SA 710 “Comparative Information—Corresponding Figures and Comparative Financial Statements”, in respect of corresponding figures, the auditor shall determine whether the financial statements include the comparative information required by the applicable financial reporting framework and whether such information is appropriately classified.

For this purpose, the auditor shall evaluate Whether-

(i) The comparative information agrees with the amounts and other disclosures presented in the prior period; and

(ii) The accounting policies reflected in the comparative information are consistent with those applied in the current period or, if there have been changes in accounting policies, whether those changes have been properly accounted for and adequately presented and disclosed.

If the auditor becomes aware of a possible material misstatement in the comparative information while performing the current period audit, the auditor shall perform such additional audit procedures as are necessary in the circumstances to obtain sufficient appropriate audit evidence to determine whether a material misstatement exists.

If the auditor had audited the prior period’s financial statements, the auditor shall also follow the relevant requirements of SA 560 “Subsequent Events”.

As required by SA 580, “Written Representations”, the auditor shall request written representations for all periods referred to in the auditor’s opinion. The auditor shall also obtain a specific written representation regarding any prior period item that is separately disclosed in the current year’s Statement of Profit and Loss.

 Please let me know what are the auditor’s responsibilities in respect of corresponding figures?

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