Statements of Position



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This proposed Statement provides that an accountant who reports on, or consents to the use of his name in conjunction with, prospective financial statements that are not restriced to internal use should either compile or review the prospective financial statements, following the guidance in this Statement, and report accordingly. The proposed Statement is applicable to all accountants, whether engaged in accounting, auditing, tax, or MAS practices. The proposed Statement would (1) establish procedures and reporting standards for a compilation service on prospective financial statements; (2) extend the review service described in the 1980 AICPA guide, Guide for Review of a Financial Forecast, to financial projections and multiple projections and establish standards with respect to review services; (3) prohibit an accountant from compiling or reviewing prospective financial statements that omit a summary of significant assumptions; (4) permit an accountant to assemble or assist in assembling prospective financial statements without requiring him to issue a report on such statements as long as he does not consent to the use of his name in conjunction with such prospective financial statements.

Publication Date


Relational Format



Financial statements -- Standards -- United States


Accounting | Taxation


Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.

Proposed authoritative statement : Prospective financial statements ;Prospective financial statements; Exposure draft (American Institute of Certified Public Accountants), 1984, June 27



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