Scope of application
01. This Auditing Standard specifies and guides the responsibilities of the auditor and the firm (hereinafter referred to as “the auditor”) with respect to comparative information during the audit of the financial statements. main. Auditors must apply the rules and guidelines of the auditor Vietnam Auditing Standards No. 510 Relates to the balance at the beginning of the accounting period when the financial statements of the previous period are audited or unaudited by previous auditors.
Content of comparison information
02. The content of comparative information presented in the financial statements of an entity is subject to the requirements of the applicable financial reporting framework. The auditor has two different approaches to the auditor's reporting responsibility that apply to each type of information: the respective data and the comparable financial statements. Laws and regulations generally specify the approach to which the auditor should take, in addition, the terms of the audit engagement may also specify that approach.
03. Audit report There is a fundamental difference between the 2 methods the:
(a) As for the financial statements there is Comparative information is presented according to the respective data method, the auditor only has to give an opinion on the current period financial report;
(b) For Financial statements with comparative information are presented using the comparative financial reporting methodThe auditor must give an opinion on the financial statements of each accounting period presented in the financial statements.
This International Standard specifies the auditor's report for each method.
Responsibilities of auditors, auditing firms and audited entities
04. The auditor and the firm shall comply with the requirements and instructions of this Standard in the auditing of the financial statements.
The entity (the customer) and the parties using the results of the audit are required to have the necessary understanding of the requirements and guidelines of this International Standard in order to coordinate work with the auditor and the firm. , as well as dealing with relationships related to comparative information - corresponding data and audited comparative financial statements.
05. Objectives of auditors and auditing firms are:
(a) Obtain sufficient appropriate audit evidence as to whether the comparative information in the financial statements has been presented, in all material respects, in accordance with the comparative information required by prepare and present applicable financial statements;
(b) Prepare the auditor's report in accordance with the auditor's responsibility.
- Auditing procedures
- Audit report
Full text view Auditing Standard No. 710