Escolar Documentos
Profissional Documentos
Cultura Documentos
3 services/associations
Assembling, no assurance, no need for evidence, but must disclose significant assumptions
Standards
Contents
No opinion or assurance
Prospective results may not be achieved
No responsibility to update
Express an opinion on conformity with AICPA and assumption are reasonable
Examination
Independence and evidence required
Projection must be "restricted use"
No AICPA presentation guide - "Except for" qualified or adverse
Modifications to the opinion
No Assumption disclosure - adverse
Assumption not reasonable - adverse
Scope limitation - disclarimer
Partial presentation is not appropriate for general use
PFS must include a summary of significant assumptions
Agree-upon procedures
Conformity with AICPA guideline
Human Resources
Prospective F/S
Standard (HELPME)
Financial Forecast
Leadership Responsibilities
Performance of engagement
Peer Review every 3 years between CPA firms for QC
Limited Use
Monitoring
Agree-upon procedure
Required Elements
Independence
SOX requirement
Restriction of use
Ethical Requirement
Measurablity
Conclusion
Quality Control
Examination
Moderate/Negative assurance
Withdrawal
Review
No assurance
Agreed-upon procedure
Independence
Professional and due professional care
Internal/External is ok
CPA'S independence
Positive Assurance on
Written Assertion
Negative Assurance on
Withdrawal
Unless not issued with and not significant part of Complete F/S
Scope
If noncompliance found
Limitation : No opinion
Compliance
Learn industry accounting & business (Misstatement? Inquiry and Analytic plan)
Inquire Internally (Optional with corporate lawyer)
Contractual
Regulatory
Special Framwork
OCBOA
Special Consideration
Cash
No description of purpose why OCBOA used
Tax
Dual Opinion (GAAP & OCBOA)
No emphasis-of-matter about using special purpose framework
Withdraw if
Scope Limitation
Issue Communcations
Step
Summary
Documentation
Service Upgrade
Requirement
Evidence
No required to review
Withdraw if rejected
Go to client for revision
Sufficient for "No material modification necessary for conforming financial Framework
Understanding engagement
Requirement
Private company/non-issuers
Adjusting entries
SSARS
Not applicable
Tax
Consulting
TAIS
Bookkeeping rendering
Data Processing
Modification appropriate?
Modification in appropriate
Request client to revise and disclose
If rejection
Notify regulatory agency
Notify users
Supplementary information