The ASPE (Accounting Standards for Private Enterprises)financial reporting framework normally requires the auditor to report using the corresponding figures approach.This means that the auditor reports on
A)the current year's financial statements.
B)both periods under audit: the current and prior year.
C)three years: the current and prior year,and the effects of the prior year.
D)only the ending balances of the general ledger accounts.

Question

Quizplus · Accepted Answer

The corresponding figures approach under the ASPE framework requires the auditor to report on the current year's financial statements, comparing them to the prior year's figures for context, but the audit opinion itself focuses on the current year's financial statements.

The ASPE (Accounting Standards for Private Enterprises)financial Reporting Framework Normally