31386 paragraphs found
The auditor’s opinion on the financial report deals with whether the financial report is prepared, in all material respects, in accordance with the applicable financial reporting framework. Such an opinion is common to all audits of financial reports. …
Law or regulation may establish the responsibilities of management and, where appropriate, those charged with governance in relation to financial reporting. However, the extent of these responsibilities, or the way in which they are described, may differ …
The preparation of a financial report by management and, where appropriate, those charged with governance requires: The identification of the applicable financial reporting framework, in the context of any relevant laws or regulations. The preparation …
The financial report may be prepared in accordance with a financial reporting framework designed to meet: The common financial information needs of a wide range of users (that is, a “general purpose financial report”); or The financial information …
The applicable financial reporting framework often encompasses financial reporting standards established by an authorised or recognised standards setting organisation, or legislative or regulatory requirements. In some cases, the financial reporting …
The requirements of the applicable financial reporting framework determine the form and content of a financial report. Although the framework may not specify how to account for or disclose all transactions or events, it ordinarily embodies sufficient …
Some financial reporting frameworks are fair presentation frameworks, while others are compliance frameworks. Financial reporting frameworks that encompass primarily the financial reporting standards established by an organisation that is authorised or …
The requirements of the applicable financial reporting framework also determine what constitutes a financial report. In the case of many frameworks, a financial report is intended to provide information about the financial position, financial performance …
ASA 210 establishes requirements and provides guidance on determining the acceptability of the applicable financial reporting framework. [5] ASA 800 deals with special considerations when the financial report is prepared in accordance with a special …