The term basic does not necessarily mean that other financial information not covered by the auditor's opinion is less important to users than that contained in the basic statements; it merely connotes the expected nature of the auditor's review of, and association with, the information.
Just because the information is described as "basic" that doesn't mean that the auditor thinks its less important.
Financial information is described by auditors as basic because it's generally information that isn't useful in the auditor's opinion.
Yeah, that's true.
girl eats snack
They got their name from an old wrecked car.
It was in the middle of the coldest winter in years.
Central Jordan's disdain for one of his coaches from the University of North Carolina, Dean Smith.
The woman is wearing a costume.