[AMERICANDREAM]

A CPA’s report on an examination of a forecast should include all of the following except

(a) A description of what the forecast information is intended to represent.
(b) A caveat as to the ultimate attainment of the forecasted results.
(c) statement that the CPA assumes no responsibility to update the report for events occurring after the date of the report.
(d) An opinion as to whether the forecast is fairly presented. –> CORRECT

Idk why the correct answer is (d). In examination engagements, doesn’t the auditor give positive assurance? And isn’t positive assurance about auditor’s opinion on whether the information is fairly presented?

[Anonymous]

This type of engagement does not result in an opinion.

Reports on Compiled Prospective Financial Statements

.18

The practitioner's standard report on a compilation of prospective financial statements should include the following:

An identification of the prospective financial statements presented by the responsible party
A statement that the practitioner has compiled the prospective financial statements in accordance with attestation standards established by the American Institute of Certified Public Accountants
A statement that a compilation is limited in scope and does not enable the practitioner to express an opinion or any other form of assurance on the prospective financial statements or the assumptions
A caveat that the prospective results may not be achieved
A statement that the practitioner assumes no responsibility to update the report for events and circumstances occurring after the date of the report
The manual or printed signature of the practitioner's firm
The date of the compilation report

I'm tired of operating in fear and mediocrity. It's time to try. It's time to do. It's time to go.

[Author]

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