Engaging external auditors to perform procedures outside the financial statement audit related to non-GAAP financial measures or key performance indicators (KPIs) can raise public confidence in the information, according to a Center for Audit Quality (CAQ) report issued Tuesday, Sept. 29.
In an audit of the financial statements, auditors generally have limited responsibility for non-GAAP measures and KPIs and are not required to provide an opinion on such measures.
The CAQ report, however, recommends auditors also read the other information in documents containing the audited financial statements to help enhance the trust and confidence in the information. Learn more.