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ASA 700 - Forming an Opinion and Reporting on a Financial Report - December 2015
Information Presented in the Financial RInformation Presented in the Financial Report Is Relevant, Reliable, Comparable and Understandable (Ref: Para. 13(d))
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Information Presented in the Financial Report Is Relevant, Reliable, Comparable and Understandable (Ref: Para. 13(d))
- Evaluating the understandability of the financial report includes consideration of such matters as whether:
- The information in the financial report is presented in a clear and concise manner.
- The placement of significant disclosures gives appropriate prominence to them (e.g., when there is perceived value of entity‑specific information to users), and whether the disclosures are appropriately cross‑referenced in a manner that would not give rise to significant challenges for users in identifying necessary information.