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This Statement provides guidance on reporting in a client-prepared document on a. Condensed financial statements (either for an annual or an interim period) that are derived from audited financial statements of a public entity that is required to file, at least annually, complete audited financial statements with a regulatory agency. b. Selected financial data that are derived from audited financial statements of either a public or a nonpublic entity and that are presented in a document that includes audited financial statements (or, with respect to a public entity, that incorporates audited financial statements by reference to information filed with a regulatory agency). Guidance on reporting on condensed financial statements or selected financial data that accompany audited financial statements in an auditor-submitted document is provided in SAS No. 29, Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents.
Auditing -- Standards -- United States; Financial statements -- Standards -- United States
Accounting | Taxation
American Institute of Certified Public Accountants. Auditing Standards Board, "Reporting on condensed financial statements and selected financial data; Statement on auditing standards, 042" (1982). Statements on Auditing Standards. 42.