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
- EPF ECR NEW FILE SEP 17TH 2026
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Capitalgain tax purposes for valuation report compulsory
- TDS on Fixed Assets purchased
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on purchase of under construction property from a reseller
- Non filing of I T Returns
- SALARY CAN BE CAPITALIZE
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
