Chapter 15: Reporting on assurance engagements - prospective financial information Flashcards
1
Q
When may assurance conclusions need to be modified?
A
If the practitioner is unable to say ‘nothing has come to our attention’
ISAE 3400 sets out the implications for the report and suggests withdrawing from the engagement as an alternative to offering modified opinions/conclusions
2
Q
What if the presentation and disclosure of the prospective financial information is not adequate?
A
Qualified or adverse opinion/conclusion
3
Q
What if one or more significant assumptions do not provide a reasonable basis for the prospective financial information?
A
Adverse opinion/conclusion
4
Q
What is there is a limitation on scope?
A
Disclaim the opinion/conclusion
