Appendix No. 14

to the Order of the Ministry of Finance of the Russian Federation of November 9, 2016 No. 207n

The international standard of audit 710 "Comparative information - comparable indicators and the comparative financial reporting"

The International Standard of Audit (ISA) 710 "Comparative information - comparable indicators and the comparative financial reporting" should be considered together with MCA 200 "Main objectives of the independent auditor and carrying out audit according to International standards of audit".

Introduction

Scope of this standard

1. This International Standard of Audit (ISA) establishes the auditor's obligations in case of financial records audit in connection with comparative information. If financial records audit for previous period was not booked or carried out by the prior auditor, also the requirements and instructions MCA 510 <1> concerning remaining balance at the beginning of the period are applied.

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<1> MCA 510 "The audit engagements performed for the first time: remaining balance at the beginning of the period".

Nature of comparative information

2. Nature of the comparative information provided in the financial reporting of the organization depends on requirements of the applicable concept of preparation of the financial reporting. There are two most widespread approaches to responsibility of the auditor on creation of the conclusion concerning such comparative information: consideration of comparable indicators and consideration of the comparative financial reporting. Application of certain approach is often offered by the law or the regulation, but can be also determined and by conditions of task.

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