Page 189 - CA Final PARAM Digital Book.

Part 5- 710

QNO Comparatives (Audit Procedures) Old Course – (M10E, M12R, M13E, PM17, N18R)
125.000 TITANIUM CNO—SA710.040

Auditor's responsibilities regarding comparatives.

Answer Part I -- Relevant Standards & Laws
▪ SA 710 – “Comparative Information – Corresponding Figures and Comparative Financial Statements”

▪ “Applicable when the FST consist of amounts and disclosures of one or more prior period
Part II -- Requirements of Relevant Standards & Laws

Audit procedures: -
➢ Basic Evaluation of comparative information:
• The Auditor shall determine whether the Financial Statements include the Comparative
Information required by the Applicable Financial Reporting Framework and whether such
information is appropriately classified.

• For this Purpose, the Auditor shall evaluate whether.
• The comparative Information agrees with the amounts & other disclosures
presented in the prior period, and

• The Accounting Policies reflected in the Comparative Information are consistent
with those applied in the current period or, if there have been changes in Accounting
Policies, whether those changes have been properly accounted for and adequately
presented and disclosed.

➢ Additional procedures in case of Material Misstatement:
• If the Auditor of becomes aware of a possible material misstatement in the Comparative
Information while performing the current period audit, he shall perform such additional audit
procedures as are necessary in the Circumstances, to obtain sufficient appropriate audit
evidence to determine whether a material misstatement exists.

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