Section 4: 10–20%A16

Other Reporting Considerations

Exam insight

Other reporting considerations appear on roughly 8-12% of AUD exam questions, and special purpose frameworks are the most-tested piece. The common error is restricting cash-basis or tax-basis reports. Remember: only regulatory and contractual basis reports are restricted. A detail most candidates miss: under AU-C 800, the report on special purpose framework statements must include an emphasis-of-matter paragraph that describes the framework and notes the statements may differ from GAAP. Also know AU-C 805 (single financial statement audits) and AU-C 810 (summary financial statements), which test whether the auditor can report on only part of the financial statements.

What AICPA wants you to know

1Apply reporting requirements for comparative financial statements
2Understand the auditor's responsibility for other information in documents containing audited statements
3Handle subsequent discovery of facts existing at the report date
4Report on financial statements prepared using special purpose frameworks
5Understand reporting on supplementary information

Patterns in this topic

The exam re-skins the same archetypes. Recognize these here, then drill them in the Pattern Lab.

The Special Framework ReportSpecial-purpose frameworks and single statements get tailored reports, and use restriction follows the framework.The Extra ParagraphEmphasis-of-matter, other-matter, and key audit matters each have a distinct job, and none changes the opinion.

Exam tip

Study smarter: before you expand each card, cover the screen and try to recall what the concept means from its title alone. Retrieving it from memory builds the recall the exam actually tests, and it beats re-reading.