Correspondiong figures
You'll learn how auditors handle corresponding figures—the prior year comparatives shown in financial statements—and when these require audit modification or emphasis.
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In this lesson
- 0:00 Comparative and other information overview
- 1:02 Auditing corresponding figures explained
- 1:47 Consistency checks and restatement procedures
- 2:34 Modified opinions and corresponding figures
- 4:02 Emphasis of matter paragraphs
- 5:12 Qualified opinion example
About this lesson
This lesson covers the key audit procedures for verifying corresponding figures agree with the prior year's audited statements, how accounting policy changes affect your audit work, and critically, when you must modify your audit opinion if prior year misstatements remain unresolved. You'll also discover when an emphasis of matter paragraph is needed versus a modified opinion, using real examples from ISA 710. This is essential knowledge for Advanced Audit and Assurance, where understanding the nuances of reporting on comparative information can make the difference between a clean and qualified opinion.
Duration: 6m
Transcript
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