Statement on auditing standards, 027

              AICPA American Institute of
Certified Public Accountants
Supplementary Information
Required by the Financial
Accounting Standards Board
1. The Financial Accounting Standards Board ( FASB) develops
standards for financial reporting, including standards for financial
statements and for certain other information supplementary to finan­cial
statements. 1 This Statement provides the independent auditor
with guidance on the nature of procedures to be applied to supple­mentary
information required by the FASB, and it describes the
circumstances that would require the auditor to report concerning
such information.
2. This Statement is applicable in an examination in accordance
with generally accepted auditing standards of financial statements
1In recognition of the FASB's role of setting standards for financial reporting,
the AICPA Council has approved the following resolution:
That the Auditing Standards Board shall establish under Statements on Auditing
Standards the responsibilities of members with respect to standards for disclosure
of financial information outside of financial statements in published financial reports
containing financial statements. For this purpose, the Council designates the FASB
as the body under rule 204 of the Rules of Conduct to establish standards for the
disclosure of such information.
Copyright © 1980 by the
American Institute of Certified Public Accountants, Inc.
1211 Avenue of the Americas, New York, N. Y. 10036
Applicability
Statement on
Auditing Standards
Issued by the Auditing Standards Board
December 1979 27