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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 930 Interim Financial Information

AU-C Original Pronouncement

Source Statement on Auditing Standards (SASs) 122 and 130.

AU-C Definition of Term

Source: AU-C 930.06

  1. Interim financial information. Financial information prepared and presented in accordance with an applicable financial reporting framework that comprises either a complete or condensed set of financial statements covering a period or periods less than one full year or covering a 12-month period ending on a date other than the entity's fiscal year-end.

Objective of AU-C Section 930

AU-C Section 930.05 states that:

…the objective of the auditor when performing an engagement to review interim financial information is to obtain a basis for reporting whether the auditor is aware of any material modifications that should be made to the interim financial information for it to be in accordance with the applicable financial reporting framework through performing limited procedures.

Scope

AU-C 930 discusses the auditor's responsibilities when conducting a review of interim financial information. AU-C 930 applies when:

  1. The entity's latest annual financial statements have been audited by the auditor or a predecessor;
  2. The auditor has been engaged to audit the entity's current year financial statements, or the auditor audited the entity's latest annual financial statements and expects to audit the current year financial statements;
  3. The client prepares its interim financial information in accordance with the ...
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Publisher Resources

ISBN: 9781119396482Purchase book