AICPA American Institute of
Certified Public Accountants
Reports on Comparative
( Supersedes Statement on Auditing Standards No. 1, section 516.11-. 12,
Statement on Auditing Standards No. 2, paragraph 49, and
Statement on Auditing Standards No. 7, paragraph 11) 1
1. This Statement provides guidance to an auditor reporting on
financial statements of one or more prior periods that are presented on
a comparative basis with financial statements of the current period. 2
2. The fourth standard of reporting requires that an auditor's report
contain either an expression of opinion regarding the financial statements
taken as a whole or an assertion to the effect that an opinion
cannot be expressed. Reference in the fourth reporting standard to
1This Statement also supersedes the auditing interpretation of paragraph 49 of
SAS No. 2 on " Reporting on Comparative Financial Statements of Nonprofit
Organizations," January 1976 ( AU section 9509.07-. 10).
2See SAS No. 1, section 543.16-. 17, for reporting on restated financial statements
of prior years following a pooling of interests.
Copyright © 1977 by the
American Institute of Certified Public Accountants, Inc.
1211 Avenue of the Americas, New York, N. Y. 10036
Auditor's Standard Report on
Comparative Financial Statements
Issued by the Auditing Standards Executive Committee