To perform an attestation engagement on prospective information or pro forma information,accountants must do all of the following except
A) Obtain knowledge about the entity's business and accounting principles.
B) Understand the internal controls used in the processes that generated the information.
C) Obtain an understanding of the process through which the information was developed.
D) Evaluate the assumptions used to prepare the information.

Question

Quizplus · Accepted Answer

Understanding internal controls is not typically required for attestation engagements on prospective or pro forma information, as these engagements focus more on the assumptions and processes used to develop the information rather than the internal controls.

To Perform an Attestation Engagement on Prospective Information or Pro