[AUD] Other matter paragraphs

1. Comparative

 1) PY(me) report restated(Q/A>UQ) 

     + OM : Date, Opinion(original), Reason(original), Change, State(changed opinion)

 2) PY(predecessor)+CY(me)

      ⓐ PY reissue *not refer me in the reissued report

          predecessor should(read/compare 올해 재무제표의 전기금액+rep letter f me & client)   

      ⓑ +OM(DORCS)

 3) PY unaudited

      SEC document: unaudited, not refer

      other document: unaudited, reissue/+OM 

 

 

2. RSI(Issuer must)

  Limited procedure

    inquire(a,b,c), compare info, written representation(a,b,c)

  Requirement

   1) +OM

     limited procedure

     RSI omitted

     Some are missing, and some presented

     SI is not inconsistent with FS

     info departs from the guideline

     auditor unable to perform prescribed procedures

     disclaimer of opinion

   2) Express an op on RSI

     " In our op, the info is fairly stated in all material respects in relation to the FS as a whole"   

EX) Pension info

 

 

3. Other info

   Procedure

     read other info, info consistent with FS

     > Correct  do nothing

     > incorrect > tell mgt to fix > not correct

     ⓐ +OM

     ⓑ withhold the report / withdraw

   Report

     not identified uncorrected MM, uncorrected MM exists

 

 

4. By-product

   to evaluate and report on supplementary info fairly stated, in all material responses, in relation to the FS as a whole

  1) supplementary info

     Required

     derived f and related directly to FS

     FS audited (no A or D)

     + FS

     Report

     ⓐ Supplementary info + separate report

     ⓑ +OM

     Opinion

      MM > Q/A

      scope limi > D

   2) single FS, specific elements, accounts, or items of FS (FS의 일부만)

     BS, AR, Asset only > Audit ok

     NI, Equity > by product only(전체를 audit 했어야함)

   3) Summary FS(재무제표의 형태 유지)

     by product of audit, derived from complete audited FS

     Report

                                               independent auditor's report on summary FS
opinion
are derived from audited FS of ~we expressed UM on FS
~consistent, in all material respects,~
Summary FS
not contain all disclosures. reading not substitute for reading the audited FS and auditor's report thereon
Mgt resp
Auditor resp 

  4) Compliance w contractual agreements or regulations in connection w audited FS

     audit of FS required(UM/Q)

     negative assurance(go ask lawyer for more info)

       ⓐ + separate report

       ⓑ +OM

     refer to specific covenants of the contractual agreements    

     refer FS audit

     restricts distribution

 

 

5. Special purpose use restriction

	Cash / Tax	Contractual / Regulatory	Regulatory(general use)
Opinion	opinion on special purpose	opinion on special purpose	opinion on special purpose opinion on GAAP(dual op)
purpose for special-purpose FS are prepared	NO(목적명확,다시언급필요X)	YES	YES
EM	YES	YES	NO
OM(use restriction)	NO	YES	NO

 

cash/ tax purpose audit 

EM: refer to the FS note(tax purpose) + indicate non-GAAP

 

 

 

https://letslearnsomethingnew.tistory.com/207

[AUD] Going concern + Emphasis of matter