tailieunhanh - Lecture Auditing & assurance services (5th edition) - Module A: Other public accounting services

Module A - Other public accounting services. This chapter explain and provide examples of attestation engagements, describe reviews and compilations of unaudited financial statements and prepare appropriate reports given specific factual circumstances, explain auditors' responsibilities related to reporting on interim financial information. | McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Module A Other Public Accounting Services Learning Objectives Explain and provide examples of attestation engagements. Describe reviews and compilations of unaudited financial statements and prepare appropriate reports given specific factual circumstances. Explain auditors’ responsibilities related to reporting on interim financial information. Define, explain, and give examples of other special reports provided by auditors, including specified elements of financial statements, special purpose frameworks and application of requirements of appropriate financial reporting frameworks. Explain and provide examples of assurance services engagements. Mod A- Attestation Engagements Report on subject matter or assertion about subject matter. Responsibility of another party Responsible party—acknowledge responsibility Mod A- Types of Attestation Engagements—Levels of Assurance Examination Review Agreed upon procedures Mod A- Standards Statements on Standards for Attestation Engagements (SSAEs) From Auditing Standards Board (AICPA) Similar to fundamental auditing principles Mod A- Agreed-Upon Procedures Engagements Consists of performing procedures normally associated with an audit or special engagement Scope less than in an audit (responsibility of user) Accountant reports procedures and findings Must restrict distribution of report to users who established scope of engagement Mod A- Financial Forecasts and Projections (AT 301) Prospective Financial Information (PFI) Financial information representing the financial position, results of operations, and cash flows for some period of time in the future. Types of PFI Financial projection Financial forecast Distribution limited use. general use. Mod A- Reporting on Pro Forma Financial Information (AT 401) Pro Forma Financial Information Reporting "AS IF" a transaction had occurred by a specific . | McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Module A Other Public Accounting Services Learning Objectives Explain and provide examples of attestation engagements. Describe reviews and compilations of unaudited financial statements and prepare appropriate reports given specific factual circumstances. Explain auditors’ responsibilities related to reporting on interim financial information. Define, explain, and give examples of other special reports provided by auditors, including specified elements of financial statements, special purpose frameworks and application of requirements of appropriate financial reporting frameworks. Explain and provide examples of assurance services engagements. Mod A- Attestation Engagements Report on subject matter or assertion about subject matter. Responsibility of another party Responsible party—acknowledge responsibility Mod A- Types of Attestation Engagements—Levels of Assurance Examination .