The Interpretative Function ^☆

Abstract

The attest function of the professional accountant does not include an obligation to interpret the significance that the account data may have for various users. As auditor, he cannot attest the effect price-level changes will have on the certified statements. However, he can assist the client to prepare supplementary disclosures of the resulting changes if the historical accounting figures were modified by systematic application of a price-level index series.

Citation

(2016), "The Interpretative Function ^☆ ", A. C. Littleton’s Final Thoughts on Accounting: A Collection of Unpublished Essays (Studies in the Development of Accounting Thought, Vol. 20), Emerald Group Publishing Limited, Leeds, pp. 153-158. https://doi.org/10.1108/S1479-350420160000020038