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

58AT-C 305 Prospective Financial Information

• Scope
• Definitions of Terms
• Objectives of AT-C 305
  • Examination Engagements (Adapted from AT-C 305)
• Objectives of AT-C 305
  • Agreed-Upon Procedures Engagements
• Requirements
  • Preconditions for an Examination Engagement
  • Preconditions for an Agreed-Upon Procedures Engagement
  • Training and Proficiency
  • Requesting a Written Assertion
  • Planning
  • Procedures for Examination Engagements
• Reports
  • Report on an Examination of a Financial Forecast
  • Report on an Examination of a Projection
  • Modified Opinions
  • Modification of an Examination Report, But Not the Opinion
  • Practitioner's Report on Agreed-Upon Procedures

SCOPE

AT-C 305's guidance applies to all examination and agreed-upon procedures engagements on prospective financial information and supplements the guidance in AT-C 105. On every attestation engagement, CPAs must comply with AT-C 105 and one of the service sections. For AT-C 305, CPAs must comply with AT-C 205 on examination engagements or AT-C 215 on agreed-upon procedure engagements. (AT-C 305.01 and .04) See the chapter on the AT-C Preface for more information about the AT-C section structure. Note that a practitioner is prohibited by AT-C standards from performing a review of prospective information. (AT-C 305.05) Prospective financial information included in this section may be prospective financial statements or partial presentations.

DEFINITIONS OF TERMS

See Appendix B, “Definitions of Terms—Attestation Engagements,” for definitions ...