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Article

AICPA issues TQA on supplementary information

October 13, 2023
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Audit Financial reporting AICPA matters

On September 10, 2023, the AICPA issued Technical Questions and Answers (TQA) 9160.37, Reporting When Supplementary Information is Materially Misstated in Relation to the Financial Statements as a Whole. TQA 9160.37 provides nonauthoritative guidance that addresses the auditor’s reporting on the supplementary information in accordance with AU-C section 725, Supplementary Information in Relation to the Financial Statements as a Whole, when an auditor concludes that supplementary information is materially misstated in relation to the financial statements as a whole and the opinion on the basic financial statements is unmodified. The TQA also addresses whether the auditor’s report on the supplementary information may be included in a separate report or if it is required to be included as a separate section in the auditor’s report on the financial statements.

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