Comparatives (AAS 25/ SA 710)

• Comparatives:

1. Corresponding previous year figures;

2. Comparative Financial Statements

• (1) vs. (2):

1. For CPYF, auditors report only refers to FS of current period;

2. For CFS, auditors report refers to each period for which FS are presented (i.e. auditors report covers preceding period also)

SA710/ AAS 25 applicable only to CPYF;

Also refer SA 510 (AAS 22);

Where prior period FS were audited, the auditors’ report should not specifically comment on CPYF because the auditors’ opinion is on the current period FS as a whole including corresponding figures;

In case the prior period FS are unaudited, the incoming auditor should state such fact in the auditor’s report