Under CAS 710, there are two different approaches to comparative information:
- Corresponding figures: Under the corresponding figures approach, the auditor’s report refers only to the financial statements of the current period. This is the norm in Canada for the auditor’s report on financial statements of non-listed entities.
- Comparative financial statements: Under the comparative financial statements approach, the auditor’s report refers to each period for which the financial statements are presented. This approach is normally used for auditor’s report on annual financial statements filed with securities regulators in Canada.