Recent years have seen many changes in the professional standards for reporting on information that accompanies the basic financial statements. The professional requirements and guidance for reporting on information that accompanies the basic financial statements is currently contained in the following publications:<,/p>

• Statement on Auditing Standards No. 118, Other Information in Documents Containing Audited Financial Statements (SAS 118)
• Statement on Auditing Standards No. 119, Supplementary Information in Relation to the Financial Statements as a Whole (SAS 119)
• Statement on Auditing Standards No. 120, Required Supplementary Information (SAS 120)
• Interpretation No. 1 of AU Section 551, Supplementary Information in Relation to the Financial Statements as a Whole
• AR Section 80, Compilation of Financial Statements (SSARS 19), paragraph .53
• AR Section 90, Review of Financial Statements (SSARS 19), paragraph .60
• AR Section 9080, Compilation of Financial Statements: Accounting and Review Services Interpretations of Section 80.
• AR Section 9090, Review of Financial Statements: Accounting and Review Services Interpretations of Section 90

This course summarizes the reporting aspects of these requirements and guidance. It does not cover the performance issues that auditors or accountants may be required to or may elect to address, such as auditing, compilation, or review procedures to be applied to such information.

Upon completion of this course, you will be able to:

• Identify supplementary information and required supplementary information and distinguish them from other information in documents containing audited financial statements
• List the professional requirements related to supplementary information, required supplementary information and other information in documents containing audited financial statements
• Explain the reporting requirements for supplementary information and required supplementary information in audit, review and compilation engagements