Other Information or Supplementary Information: What Is the Auditor Responsible For?
Information presented with audited financial statements does not all receive the same audit treatment.
Other information
Narrative or financial information included in an annual report can fall outside the audited financial statements but still require the auditor to read it for material inconsistency or misstatement.
Supplementary information
Certain information accompanying the financial statements can be subject to specified audit or reporting procedures depending on its status and the engagement.
Required supplementary information
Some frameworks require supplementary schedules or disclosures that receive limited procedures rather than a full audit opinion.
Exam strategy
Identify whether the material is part of the basic statements, supplementary to them, required by the framework, or simply other annual-report information.
The takeaway
The auditor's procedures depend on what the information is, whether it is part of the financial statements, and what reporting framework requires.
Related Summit guides
FAQ
Does the auditor automatically audit every page of an annual report?
No.
Can required supplementary information receive limited procedures?
Yes.
Does classification affect reporting responsibilities?
Yes.