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Reporting

13 The auditor shall issue an auditor’s report in which the comparatives are not specifically identified because the audit opinion is on the current period financial report as a whole, including the comparatives.

14 The auditor’s report would make specific reference to the comparatives only in the circumstances described in paragraphs 15, 18(b), 21, 23 and 26 of this Auditing Standard.

15 When the auditor’s report on the prior period, as previously issued, included a qualified opinion, disclaimer of opinion, or adverse opinion and the matter which gave rise to the modification is:

(a) unresolved, and results in a modification of the auditor’s report regarding the current period figures, the auditor’s report shall also be modified regarding the comparatives; or

(b) unresolved, but does not result in a modification of the auditor’s report regarding the current period figures, the auditor’s report shall be modified regarding the comparatives.

16 When the auditor’s report on the prior period, as previously issued, included a qualified opinion, disclaimer of opinion, or adverse opinion and the matter which gave rise to the modification is resolved and properly dealt with in the financial report, the current report does not ordinarily refer to the previous modification.

17 In performing the audit of the current period financial report, the auditor, in certain unusual circumstances, may become aware of a material misstatement that affects the prior period financial report on which an unmodified report has been previously issued.

18 Where the auditor becomes aware of a material misstatement that affects the prior period financial report on which an unmodified report has been previously issued, the auditor shall consider the mandatory requirements in ASA 560 Subsequent Events and:

(a) if the prior period financial report has been revised and reissued with a new auditor’s report, the auditor shall obtain sufficient appropriate audit evidence that the comparatives agree with the revised financial report; or

(b) if the prior period financial report has not been revised and reissued, and the comparatives have not been properly restated and/or appropriate disclosures have not been made, the auditor shall issue a modified report on the current period financial report, modified with respect to the comparatives included therein.

19 Where the auditor becomes aware of a material misstatement that affects the prior period financial report on which an unmodified report has been previously issued, and if the prior period financial report has not been revised and an auditor’s report has not been reissued, but the comparatives have been properly restated and/or appropriate disclosures have been made in the current period financial report, the auditor shall express an unmodified opinion and shall consider the mandatory requirements in ASA 560.