# SA 710 – Comparative Information: Corresponding Figures and Comparative Financial Statements

## Scope

SA 710 governs the auditor's responsibilities regarding comparative information in an audit of financial statements.

> When prior period FS have been audited or not audited, SA 510 (Opening Balances) requirements also apply.

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## Two Distinct Approaches to Comparative Information

Approach	Description	Auditor's Opinion Covers
Comparative Financial Statements	Prior period amounts are an integral part of the current FS, audited at the same level of scrutiny	Each period presented
Corresponding Figures	Prior period amounts are included only for comparison with current period — they are not a separate subject of the opinion	Current period only

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## Definition: Comparative Information

Amounts and other disclosures for the prior period included alongside current period FS, for purposes of comparison.

Under Corresponding Figures: the prior period data is contextual — opinion refers only to the current period
Under Comparative FS: the prior period is a co-equal subject of the auditor's opinion

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> Note: Audit procedures for comparative information (Corresponding Figures approach) and full treatment of when the auditor's opinion refers to corresponding figures are covered in the subsequent pages of this SA.

Worked example

### Example 1

Scenario – Identifying the Approach: Vertex Ltd presents its P&L for the year ended 31 March 2025, with 31 March 2024 figures alongside for reference. The audit engagement letter specifies that the auditor is engaged to audit only the current year. Application: This is the Corresponding Figures approach — the prior year figures are included for comparison only. The auditor's opinion will refer only to the current period (FY 2025). If a material misstatement is found in the prior year corresponding figures, the auditor must consider how to address it but does not re-issue a separate opinion on FY 2024.

### Example 2

Scenario – Comparative FS Approach: Jupiter Group presents consolidated FS for FY 2025 and FY 2024 as a combined document, and the engagement is to audit both years. Application: This is the Comparative Financial Statements approach. The auditor's report will express an opinion on each year separately. Any modification for FY 2024 (e.g., qualification) must be reflected in the current year's report for the comparative period as well.

⚠️ Common exam mistakes

Assuming the auditor always opines on both years when prior year figures are shown — under the Corresponding Figures approach, the opinion covers only the current period.
Overlooking the SA 510 link — whenever prior period FS were audited or unaudited (irrespective of approach), SA 510 on Opening Balances also applies.
Confusing the two approaches: 'Comparative FS' means both years are full audit subjects; 'Corresponding Figures' means prior year data is only contextual reference.

Bare-Act text Section I – Definition of Comparative Information · SA 710 (ICAI) – Comparative Information – Corresponding Figures and Comparative Financial Statements · click to expand

Comparative information: Amounts and other disclosures for the prior period are included for comparison with the financial statements of the current period but, if audited, are referred to in the auditor's opinion. The level of information included in those comparative financial statements is comparable with that of the current period financial statements.

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SA 710 – Comparative Information: Corresponding Figures vs Comparative Financial Statements

Worked example

⚠️ Common exam mistakes