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Comparator company’s 2014’s audit report Included a restated SOFP of 2013 & 2012. But restated SOCI is only for 2013. There is no sign of restated figure for 2012’s SOCI.
The changes are in deferred tax & deprecation. which affected SOFP (in PPE, RE & DT liability) & SOCI (in provision for DT & 3 different headings).
I’ve tried every possible way to find out the figures. But found it’s quite impossible.
My questions are :
1) How can i get the accurate figure of provision for DT & depreciation and adjust the 2012’s SOCI?2) If it’s not possible, then should i use the previous years audited FS (not restated) for calculation & comparisons?
Use the figures in the latest year.
Explain Prior period adjustments under Part 2: Methodologies and assumptions and mention that you have done so.
You can draw up a statement in Excel and reference it to company’s statements and use these for your calculations.Hope this helps.
My problem is only with the 2012’s SOCI (which is not given in 2014’s restatement,rests are given). I can’t calculate the restated figure of provision and depreciation charged in 2012 with the opening (restated) figure of 2013. That’s why I’m using the previous audit report for the 2012.
Are you suggesting to do the same thing? Using the previous FS (not restated) for 2012 and restated for 2013 & 2014? And then mention it as an assumption?
Sorry. I didn’t get it in right way. would you please explain it again (mentioning the years to use)?
@obuahmed
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