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Hi Mike,
Q1) Does ISA 720 other information include the directors report and chairmans report.
Q2) And if we disagree with the other information/believe the other info has a material inconsistency so which paragraph will be used to highlight it? The other information paragraph? or the other matters or the EOM pararagraph.
Best Regards,
FurqanHere’s a link to the auditors’ report on the financial statements of Devro PLC – an entity to which I frequently refer during lectures – pages 114, 115 and 116
“https://www.devro.com/uploads/tx_sbdownloader/Devro-Annual-Report-and-Accounts-2015.pdf”
Neither the chair’s report nor the directors’ report in included within the auditors’ coverage (except the element of directors’ remuneration that is a requirement by UK Company Law)
And this is from the August 2015 article in Student Accountant:
“OTHER MATTERS
‘Other matter’ paragraphs are used to refer to matters that have not been disclosed in the financial statements that the auditor believes are significant to user understanding. One usage of these paragraphs is where the auditor concludes that there is a material inconsistency between the audited financial statements and the other (unaudited) information contained within the annual report and accounts, as required by ISA 720, The Auditor’s Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements.”I believe that that should cover the answers to your questions
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