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ASA 260 - Communication with Those Charged with Governance - October 2009
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Related Matters
- The potential effect on the financial report of significant risks, exposures and uncertainties, such as pending litigation, that are disclosed in the financial report.
- The extent to which the financial report is affected by unusual transactions, including non‑recurring amounts recognised during the period, and the extent to which such transactions are separately disclosed in the financial report.
- The factors affecting asset and liability carrying values, including the entity’s bases for determining useful lives assigned to tangible and intangible assets. The communication may explain how factors affecting carrying values were selected and how alternative selections would have affected the financial report.
- The selective correction of misstatements, for example, correcting misstatements with the effect of increasing reported earnings, but not those that have the effect of decreasing reported earnings.