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Wiley Practitioner's Guide to GAAS 2023, 2nd Edition
book

Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

by Joanne M. Flood
April 2023
Intermediate to advanced content levelIntermediate to advanced
1056 pages
34h 59m
English
Wiley
Content preview from Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

45AU-C 915 Reports on Application of Requirements of an Applicable Financial Reporting Framework

SCOPE

AU-C 915 applies to providing written advice:

  • On the application of accounting principles to specified transactions (completed or proposed) involving facts and circumstances of a specific entity
  • On the type of report that may be rendered on a specific entity's financial statements

    (AU-C 915.01)

The Section applies to these situations whether the advice is provided as part of a proposal to obtain a new client or as a separate engagement.

AU-C 915 applies to oral advice in the following circumstances:

  • The reporting accountant concludes the advice is intended to be used by a principal as an important factor in reaching a decision; and
  • The advice relates to the application of accounting principles to a specific transaction or the type of opinion that may be rendered on a specific entity's financial statements.

    (AU-C 915.02)

AU-C 915 does not apply to:

  • A continuing accountant engaged to report on the financial statements of a specific entity
  • An engagement to assist in litigation involving accounting matters or provide expert testimony in litigation (i.e., litigation service engagements)
  • Advice provided to another accountant ...
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Publisher Resources

ISBN: 9781394152704Purchase Link