Cool Auditors Responsibility For Other Information
Auditors Responsibility Relating to Other Information - ISA 720 Revised Comments to be received by April 30th 2013.
Auditors responsibility for other information. Standard on Auditing SA 720 Revised deals with the auditors responsibilities relating to other information whether financial or non-financial information other than financial statements and the auditors report thereon included in an entitys annual report. Effective for audits of financial statements for periods ending on or afterDecember152021. 04 Other information in a document may be relevant to an audit performed by an independent auditor or to the continuing propriety of his report.
The auditors responsibilities regarding dissemination by the entity of documents on which work has been performed in accordance with proposed ISA 720. The auditors responsibilities relating to other information other than applicable reporting responsibilities apply regardless of whether the other information is obtained by the auditor prior to or after the date of the auditors report. The auditor shall read the other information to identify material inconsistencies if any with the audited financial statements.
These Auditing Standards provide for the objective of the auditor to respond appropriately when documents containing an audited financial report and the auditors report thereon include other information that could undermine the credibility of that financial report and the auditors report. On Auditing ISA 720 Revised The Auditors Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditors Report Thereon proposed ISA. The auditor shall make appropriate arrangements with management or those charged with governance to obtain the other information prior to the date of the auditors report.
The auditors responsibilities relating to the other information in particular the nature and extent of work required to achieve the auditors objectives under proposed ISA 720 Revised with regard to different types of other information. And Consider whether there is a material inconsistency between the other information and the auditors. While retaining the current passfail approach to the audit report the.
By Fredrick Otwori September 21 2015 0 Comments. The auditors responsibility with respect to the other information any proce-dures performed relating to the other information and the results. Which of the following best describes the auditors responsibility for other information included in the annual report to stockholders that contains financial statements and the auditors report.
Reading Other Information 6. The scope of forensic audits can be as wide as necessary and can take a significant amount of time and resources. Other Information Included in Annual Reports 1037 AU-CSection720 The Auditors Responsibilities Relating to Other Information Included in Annual Reports SourceSASNo137SASNo141.