Wiley Practitioner's Guide to GAAS 2022

38AU-C 730 Required Supplementary Information

• Scope
• Definitions of Terms
• Objectives
• Requirements
  • Procedures
  • Coordination with Other Audit Areas
  • Reporting on Supplementary Information
• AU-C 730 Illustrations

SCOPE

AU-C 730 offers auditors guidance on their responsibilities for information required to accompany the basic financial statements by a designated standards setter. The auditor's opinion does not cover the required supplementary information. (AU-C 730.01)

DEFINITIONS OF TERMS

Source: AU-C 730.03. For definitions related to this standard, see Appendix A, “Definitions of Terms”: Applicable financial reporting framework, Basic financial statements, Designated accounting standards setter, Prescribed guidelines, Required supplementary information.

OBJECTIVES

AU-C Section 730.03 states that:

… the objectives of the auditor when a designated accounting standards setter requires information to accompany an entity's basic financial statements are to perform specified procedures in order to

1. describe, in the auditor's report, whether required supplementary information is presented and
2. communicate therein when some or all of the required supplementary information has not been presented in accordance with guidelines established by a designated accounting standards setter or when the auditor has identified material modifications that should be made to the required supplementary information for it to be in accordance with guidelines established by the designated accounting ...