Doubt on sa 720
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 December 2012
PLEASE GIVE AN EXAMPLE OF THE TERM 'OTHER INFORMATION' IN SA 720
28 December 2012
This SA deals with Auditor’s responsibility in relation to Other Information* presented in documents (annual reports or similar document) containing audited Financial Statements and the auditor’s report thereon.
*Other information may comprise for example:
A report by Management or those charged with governance on operations.
Financial Summaries or highlights.
Planned Capital expenditures.
Financial ratios.
The objective of the auditor is to respond appropriately when documents containing audited financial statements and the auditor’s report thereon include other information that could undermine the credibility of those financial statements and the auditor’s report.
Reading Other Information
The Auditor shall make an appropriate arrangements with Management or Those Charged with Governance, to provide such other information, prior to the date of auditor’s report to the auditor.
Read such other information to identify Material Inconsistencies or Material Misstatement of facts , if any with audited financial statements.
*Other information may comprise for example:
A report by Management or those charged with governance on operations.
Financial Summaries or highlights.
Planned Capital expenditures.
Financial ratios.
The objective of the auditor is to respond appropriately when documents containing audited financial statements and the auditor’s report thereon include other information that could undermine the credibility of those financial statements and the auditor’s report.
Reading Other Information
The Auditor shall make an appropriate arrangements with Management or Those Charged with Governance, to provide such other information, prior to the date of auditor’s report to the auditor.
Read such other information to identify Material Inconsistencies or Material Misstatement of facts , if any with audited financial statements.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
