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Wiley Practitioner's Guide to GAAS 2018, 2nd Edition
book

Wiley Practitioner's Guide to GAAS 2018, 2nd Edition

by Joanne M. Flood
April 2018
Beginner to intermediate content levelBeginner to intermediate
880 pages
28h 54m
English
Wiley
Content preview from Wiley Practitioner's Guide to GAAS 2018, 2nd Edition

AU-C 700 Forming an Opinion and Reporting on Financial Statements

AU-C Original Pronouncement

Sources Statements on Auditing Standards (SASs) 122 and 131.

AU-C Definitions of Terms

Source: AU-C 700.11

  1. Comparative financial statements. A complete set of financial statements for one or more prior periods included for comparison with the financial statements of the current period.
  2. Comparative information. Prior period information presented for purposes of comparison with current period amounts or disclosures that is not in the form of a complete set of financial statements. Comparative information includes prior period information presented as condensed financial statements or summarized financial information.
  3. Condensed financial statements. Historical financial information that is presented in less detail than a complete set of financial statements, in accordance with an appropriate financial reporting framework. Condensed financial statements may be separately presented as unaudited financial information or may be presented as comparative information.
  4. General purpose financial statements. Financial statements prepared in accordance with a general purpose framework.
  5. General purpose framework. A financial reporting framework designed to meet the common financial information needs of a wide range of users.
  6. Unmodified opinion. The opinion expressed by the auditor when the auditor concludes that the financial statements are presented fairly, in all material respects, in ...
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Publisher Resources

ISBN: 9781119396482Purchase book