What is the auditors' responsibility for reporting on other information accompanying financial statements?
A)Because this information is not a fundamental part of the financial statements, the auditors have no reporting responsibility with respect to this information.
B)Auditors are required to report on the consistency of other information with the audited financial statements.
C)Auditors are required to provide reasonable assurance with respect to whether the other information is presented in accordance with generally accepted accounting principles.
D)Auditors are required to express an opinion on whether the other information is presented in accordance with generally accepted accounting principles.

Question

Quizplus · Accepted Answer

Auditors are required to report on the consistency of other information with the audited financial statements, as per the Statements on Auditing Standards (SAS) 136. While the auditors are not responsible for the preparation of this information, they do have a responsibility to read it and determine if it is consistent with the audited financial statements. However, auditors are not required to provide assurance on the presentation or compliance of this information with GAAP.

What Is the Auditors' Responsibility for Reporting on Other Information