AR-C Section 90A.83-85 says: ".83 Concerning the requirement in paragraph .80, with respect to required supplementary information, the accountant should include an other-matter paragraph in the accountant's review report on the financial statements. The other-matter paragraph should include language to explain the following circumstances, as applicable: (Ref: par. .A135)
a. The required supplementary information is included, and the accountant performed a compilation engagement on the required supplementary information.
b. The required supplementary information is included, and the accountant reviewed the required supplementary information.
c. The required supplementary information is included, and the accountant did not perform a compilation, review, or audit on the required supplementary information.
d. The required supplementary information is omitted.
e. Some required supplementary information is missing, and some is presented in accordance with the prescribed guidelines (Ref: par. .A136)
f. The accountant has identified departures from the prescribed guidelines.
g. The accountant has unresolved doubts about whether the required supplementary information is presented in accordance with prescribed guidelines.
[As amended, effective October 2016, by SSARS No. 23.]
.84 If the entity has presented all or some of the required supplementary information and the accountant did not perform a compilation or review on the required supplementary information, the other-matter paragraph referred to in paragraph .80 should include the following elements: (Ref: par. .A137)
a. A statement that [identify the applicable financial reporting framework (for example, accounting principles generally accepted in the United States of America)] require that the [identify the required supplementary information] be presented to supplement the basic financial statements
b. A statement that such information, although not a part of the basic financial statements, is required by [identify designated accounting standards-setter], who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context
c. A statement that the accountant did not perform a compilation, review, or audit on the required supplementary information and does not express an opinion or provide any assurance on the information
d. If some of the required supplementary information is omitted
i. a statement that management has omitted [description of the missing required supplementary information] that [identify the applicable financial reporting framework (for example, accounting principles generally accepted in the United States of America)] require to be presented to supplement the basic financial statements
ii. a statement that such missing information, although not a part of the basic financial statements, is required by [identify designated accounting standards-setter], who considers
it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context
e. If the measurement or presentation of the required supplementary information departs materially from the prescribed guidelines, a statement that material departures from prescribed guidelines exist [describe the material departures from the applicable financial reporting framework]
f. If the accountant has unresolved doubts about whether the required supplementary information is measured or presented in accordance with prescribed guidelines, a statement that the accountant has doubts about whether material modifications should be made to the required supplementary information for it to be presented in accordance with guidelines established by [identify designated accounting standards-setter]
[As amended, effective October 2016, by SSARS No. 23.]
.85 If all the required supplementary information is omitted, the other matter paragraph should include the following elements:
a. A statement that management has omitted [description of the missing required supplementary information] that [identify the applicable financial reporting framework (for example, accounting principles generally accepted in the United States of America)] require to be presented to supplement the basic financial statements
b. A statement that such missing information, although not a part of the basic financial statements, is required by [identify designated accounting standards-setter], who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context"
Ryan A. Sawyer, CPA, PLLC
We are a Dallas, Texas CPA firm specializing in assurance services for Texas businesses in a wide range of industries and sizes.
www.SawyerAssurance.com
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