Other Services and Reports

Question 1

What is required when there is voluntary supplementary info?

Answer 1

Read for consistency

Report on exceptions only

Question 2

What is required when there is required supplementary info?

Answer 2

Limited review procedures

Report exceptions only

Question 3

What is required when there is supplementary info submitted by auditor?

Answer 3

Audit unless disclaiming info

Report in all cases

Question 4

What is included in an Agreed Upon Procedures report?

Answer 4

Findings
Disclaimer
Limited use

Question 5

What is a forecast?

Answer 5

What management expects to occur based on expected conditions and expected courses of action

Question 6

What is a projection?

Answer 6

What management believes will occur given hypothetical assumptions based on “what if” scenarios

Question 7

What is included in reports on prospective F/S?

Answer 7

Results may not be achieved
No responsibility to update
Projections - limitation on usefulness

Question 8

What are other attestation engagements?

Answer 8

Agreed upon procedures
Financial forecasts and projections
Pro forma financial info
Examination of I/C
Compliance attestation
Management Discussion and Analysis
Reporting on controls
Providing assurance on investment performance statistics

Question 9

What is required for a GAS audit?

Answer 9

GAAS +
Report on I/C - scope and results
Report on compliance with laws and regulations