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I had a quick question for you and was hoping that you could provide your insight. I am struggling to grasp this concept. Specifically,
1) what is the difference between comparative information and corresponding figures?
2) how does that affect the audit report and the additional work required?- Topics: 5
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ISA 710: as far as I understand corresponding figures relate to any figures shown in different statements of one financial report for a particular year/period (a balance sheet item VS notes); however comparative figures relates to different periods/years (total assets YTD 2012 VS YTD 2011, profit YTD 2012 VS YTD 2011). Hope this helps a little bit.
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