Scope of this Auditing StandardScope of this Auditing Standard

Scope of this Auditing Standard

1. Image unavailable in extracted text This Auditing Standard deals with the auditor’s responsibilities relating to other information in documents containing an audited financial report and the auditor’s report thereon. In the absence of any separate requirement in the particular circumstances of the engagement, the auditor’s opinion does not cover other information and the auditor has no specific responsibility for determining whether or not other information is properly stated. However, the auditor reads the other information because the credibility of the audited financial report may be undermined by material inconsistencies between the audited financial report and other information. (Ref: Para. A1)
2. Image unavailable in extracted text In this Auditing Standard “documents containing an audited financial report” refers to annual reports (or similar documents), that are issued to owners (or similar stakeholders), containing an audited financial report and the auditor’s report thereon. This Auditing Standard may also be applied, as necessary in the circumstances, to other documents containing an audited financial report, such as those used in securities offerings.[1] (Ref: Para. A2)