Agreed Upon Procedures

Question 1

Which of the following statements is least likely to be included in a report on examination of a financial projection?

Answer 1

The accompanying projection is presented in conformity with guidelines for presentation of a projection established by the PCAOB

Question 2

When accountant compiles a financial forecast the accountant report should include

Answer 2

A statement that practicioner assumes no responsibility to update the report for events after date of report

Question 3

Restricted use paragraph in report:

Answer 3

Pro Forma-NOT required
Comfort letter (SEC registration) -Required
Compliance in Connection with audited FS -Required restricted use
Fin Projection-Required

Question 4

A practicioner report on agreed upon procedures that is in form of procedures and findings should contain

Answer 4

A disclaimer of opinion on the subject matter