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Author Question: What is the best reason that standards prohibit accepting an engagement on a projection for general use? (Read 29 times)

cyc028

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on: Aug 21, 2022

Question 1

Professional standards prohibit which one of the following types of engagements for prospective financial statements from being undertaken?
◦ a compilation
◦ a review
◦ an examination
◦ an agreed-upon procedures engagement

Question 2

What is the best reason that standards prohibit accepting an engagement on a projection for general use?
◦ The CPA's procedures would violate SSARS.
◦ Reports on projections are not well understood by the general public.
◦ Underlying hypothetical assumptions are difficult to interpret without obtaining additional information.
◦ The CPA is not qualified to report on the use of GAAP in the projected financial statement.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by cyc028 on Aug 21, 2022

Deonnak85

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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cyc028

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

aliotak

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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