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Work Effort Involved for Corresponding Figures and Comparative Financial Statements Audit Procedures Paragraphs 6 and 20 in extant ISA 710 which deal with the auditors procedures in respect of corresponding figures and comparative financial statements respectively both require the auditor 1 Extant ISA 710 Comparatives.

Corresponding figures and comparative financial statements examples. ABC International Balance Sheet. Corresponding Figures and Comparative Financial Statements Hong Kong Standard on Auditing 710 HKSA 710 Issued September 2009. Comparative Financial Statements The Auditors Responsibilities 20.

Either corresponding figures or comparative financial statements. The Securities and Exchange Commission requires that a publicly held company use comparative financial statements when reporting to the public on the Form 10-K and Form 10-Q. Corresponding figures are the figures which shows auditors findings or opinion regarding financials reports of the company for the current period only while comparative financial statements shows auditors findings or opinion regarding financial statement refers to each for which financial report is being made and compared with last period.

Example of Comparative Financial Statements. The Companies Amendment Act 2014 gave rise to conforming amendments in SSA 710 in June 2015. Corresponding Figures and Comparative Financial Statements SSA 710 Comparative Information Corresponding Figures and Comparative Financial Statements superseded SSA 710 Comparatives in January 2010.

Introduction 1-4 Objectives 5 Definitions 6 Requirements 7-19 Close section Application and Other Explanatory Material. SA 710 2 Standard on Auditing SA 710 Comparative InformationCorresponding Figures and Comparative Financial Statements should be read in the context. Revised July 2010 June 2014 Effective for audits of financial statements for periods beginning on or after 15 December 2009 There are amendments attached to this HKSA resulting from the Hong Kong Companies.

Example Auditors Reports Published in the April 2010 issue of the Journal. We know that an Income Statement presents the results of the operation ie. Corresponding Figures and Comparative Financial Statements Appendix.

Corresponding figures or if management refuses to do so appropriately modify the report. The two approaches to the reporting responsibilities of an auditor in respect of comparative information include. Net profit or net loss.

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