When an accountant compiles a financial forecast, the accountant's report should include a(an):

Question

Quizplus · Accepted Answer

Choice "B," is correct. W,henever an accountant reports on prospective financial statements, the report should include a caveat that prospective results may not be achieved. C,hoice "A," is incorrect. A, compilation report on a financial forecast does not include an of the differences between a forecast and a projection. C,hoice "C," is incorrect. W,henever an accountant reports on prospective financial statements, the report should include a statement that the accountant assumes no responsibility to update the report for events and circumstances occurring after the date of the report. C,hoice "D," is incorrect. A, compilation report on a financial forecast does not include a disclaimer of opinion on the reliability of the entity's internal controls.

When an Accountant Compiles a Financial Forecast, the Accountant's Report