Page 219 - AAA Integrated Workbook STUDENT S18-J19

Chapter 14

Prospective financial information

Outcome

By the end of this session you should be able to:

 define and describe the purpose of a prospective financial information (PFI)
assignment and analyse the appropriate level of assurance that may be offered
by a professional firm in relation to this assignment

 identify and describe the matters to be considered before accepting the
engagement, including any ethical and professional considerations

 plan the assignment to gather suitable evidence and provide an appropriate
level of assurance in line with the objectives of the assignment

 discuss the level of assurance that the auditor may provide and explain the
other factors to be considered in determining the nature, timing and extent of
examination procedures

 describe and recommend appropriate substantive, examination or investigative
procedures which can be used to gather sufficient appropriate evidence in the
circumstances

 discuss the content of a report for an examination of prospective financial
information

and answer questions relating to these areas.

The underpinning detail for this chapter in your Integrated Workbook can
be found in Chapter 14 of your Study Text

215