Flashcards in Other Services and Reports Deck (9)
What is required when there is voluntary supplementary info?
Read for consistency
Report on exceptions only
What is required when there is required supplementary info?
Limited review procedures
Report exceptions only
What is required when there is supplementary info submitted by auditor?
Audit unless disclaiming info
Report in all cases
What is included in an Agreed Upon Procedures report?
What is a forecast?
What management expects to occur based on expected conditions and expected courses of action
What is a projection?
What management believes will occur given hypothetical assumptions based on "what if" scenarios
What is included in reports on prospective F/S?
Results may not be achieved
No responsibility to update
Projections - limitation on usefulness
What are other attestation engagements?
Agreed upon procedures
Financial forecasts and projections
Pro forma financial info
Examination of I/C
Management Discussion and Analysis
Reporting on controls
Providing assurance on investment performance statistics