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


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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