[The following paragraph was effective for audits of fiscal years ending before June 1, 2014. See PCAOB Release No. 2013-008for audits of fiscal years ending on or after June 1, 2014, or return to the current version.]


This section provides guidance on reporting in a client-prepared document on—

  1. Condensed financial statements (either for an annual or an interim period) that are derived from audited financial statements of a public entity fn 1 that is required to file, at least annually, complete audited financial statements with a regulatory agency.
  2. Selected financial data that are derived from audited financial statements of either a public or a nonpublic entity and that are presented in a document that includes audited financial statements (or, with respect to a public entity, that incorporates audited financial statements by reference to information filed with a regulatory agency).

Guidance on reporting on condensed financial statements or selected financial data that accompany audited financial statements in an auditor-submitted document is provided in section 551, Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents.