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The purpose of this Auditing and Assurance Standard (AAS) is to establish standards on the auditor’s responsibilities regarding comparatives. It does not however deal with situations when summarized financial statements or data are presented with the audited financial statements. The AAS therefore explains the concept of comparatives in financial statements, corresponding figures and comparative financial statements. It also deals with the requirement for obtaining sufficient appropriate audit evidence in respect of comparatives, audit procedures where prior period financial statements are unaudited, audit procedures in case of material misstatements in comparatives or where prior period audit report contains a modified opinion, etc. The AAS also contains a discussion on financial reporting frameworks for comparatives and also illustrative auditor’s report in circumstances described in the Standard.

This AAS is operative for all audits relating to accounting periods beginning on or after April 1, 2003.


Issued in September, 2002.
Published in the Handbook of Auditing Pronouncements, Vol. I, (Edn. 2003).
Also available as a separate publication of the Institute (Price: Rs. 25/-).
ISBN: 81-87072-99-7

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