The CPA/PFS should document their understanding of the implementation engagement,including the roles and responsibilities of the CPA/PFS,the client,and other service providers.Documentation should include all of the following except:
A)Client's evaluation of progress toward achieving the client's financial planning goals,including whether the client's existing financial plan and specific financial recommendations should be updated.
B)Criteria that are important to the achievement of the financial planning goals being monitored.
C)Frequency and time period of measuring the clients progress toward reaching the stated goals.
D)Utilization of monitoring criteria that are appropriate to,and consistent with,the criteria used to establish the goals being monitored.

Question

Quizplus · Accepted Answer

All of the options listed (B, C, and D) are appropriate areas for documentation of the implementation engagement, but option A refers to the client's evaluation of progress, which is not something that the CPA/PFS needs to document. Instead, the CPA/PFS should be evaluating progress and updating recommendations as needed.

The CPA/PFS Should Document Their Understanding of the Implementation Engagement,including