A nonissuer’s unaudited financial statements for the prior period are presented in comparative form with audited financial statements for the subsequent year. If the prior-period statements were reviewed, it could have one or the other statement
The report on the unaudited financial statements should be reissued.
The report on the audited financial statements should include an other-matter paragraph.
A nonissuer’s audited statements for the current period may be presented comparatively with the prior period’s reviewed or compiled statements. If the prior period’s report is not reissued, the auditor’s current-period report should include an other-matter paragraph that states (1) the service performed in the prior period, (2) the date of the service, (3) a description of material modifications noted in the report, and (4) that the service was not an audit and did not provide a basis for an opinion