Download Full Text (472 KB)
This proposed statement establishes standards that apply to U.S. auditors who express an opinion on financial statements of a U.S. entity prepared in conformity with accounting principles of another country for use outside the United States. The proposed statement establishes standards that--(1) Require the auditor to obtain written representations from management regarding the distribution of such financial statements; (2) Permit the auditor to use a modified U.S.-style report form or a non-U.S. standard report if the financial statements are used only outside the United States or will not have more than limited use in the United States; (3) Permit the auditor to use dual reports or a U.S. standard report modified for U.S. GAAP departures if the financial statements will be used in the United States.
Financial statements -- United States
Accounting | Taxation
American Institute of Certified Public Accountants. Auditing Standards Board, "Proposed statement on auditing standards : reporting on financial statements prepared for use in other countries ;Reporting on financial statements prepared for use in other countries" (1985). Statements of Position. 483.