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AICPA releases Q&A on required supplementary information

Nonauthoritative guidance is provided on independence requirements.

Please note: This item is from our archives and was published in 2015. It is provided for historical reference. The content may be out of date and links may no longer function.

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The AICPA issued a Q&A to provide nonauthoritative guidance to auditors regarding independence requirements with respect to required supplementary information.

Question and Answer (Q&A) Section 9180.01 addresses the situation when required supplementary information accompanies financial statements subject to an audit, and that required supplementary information extends to historical prior periods (back periods) in which the auditor did not perform an engagement that required independence.

The Q&A states that the auditor is not required, for the purposes of complying with AU-C Section 730, Required Supplementary Information, to be independent of the entity in back periods as long as the auditor’s opinion does not cover required supplementary information.