Examination of

Prospective
Financial Statements
Kelompok 4
Ario Narabewa (1706998302)
Bob Aldi (1706089721)
Dewa Gede Adi Wiyoga (1706998353)
Evan Soesanto (1706089803
Prospective Financial Statements

Financial Forecasts (Prakiraan Keuangan)

• Menyajikan, atas dasar kondisi yang diharapkan

terjadi, posisi keuangan, hasil usaha, dan arus kas
yang diharapkan dari suatu entitas.

Financial Projections (Proyeksi Keuangan)

• Menyajikan, atas dasar satu atau lebih asumsi

hipotesis, posisi keuangan, hasil usaha, dan arus kas
yang diharapkan dari suatu entitas.
Forecasts Projections
Berdasarkan Atas dasar satu
asumsi kondisi atau lebih
tertentu asumsi hipotesis

Mencerminkan Mencerminkan
kondisi yang kondisi yang
diharapkan dan diharapkan dan
tindakan yang tindakan yang
akan diambil akan diambil

Dinyatakan
Menjawab
dalam suatu
pertanyaan “apa
prakiraan
yang akan
tunggal atau
terjadi jika….”
kisaran

Dinyatakan
dalam suatu
prakiraan
tunggal atau
kisaran
Kegunaan Prospective Financial Statements
• General use statements are prepared for use by any third party,
such as the inclusion of a financial forecast in a prospectus for the
sale of hospital bonds.
• Limited use statements are prepared solely for third parties with
whom the responsible party is dealing directly, such as the
inclusion of a financial projection in a bank loan application
document.
Examination

• An examination engagement in which the CPA obtains satisfaction as to the

completeness and reasonableness of all the assumptions.

Agreed upon procedures

• An agreed-upon procedures engagement in which the CPA and all users of the
statements agree on specific, limited attestation procedures.

Compilation

• A compilation engagement in which the CPA is primarily involved with the

computational accuracy of the statements, and not the reasonableness of the
assumptions.
Prospective Financial Statements - Examination

In an examination level engagement, the CPA:

• Evaluates the preparation of the prospective

financial statements
• Evaluates the presentation of the prospective
financial statements for conformity with
AICPA presentation guidelines
• Issues an examination report
Prospective Financial Statements – Report on Examination

• The CPA is not attesting to the accuracy of the prospective financial

statements. Instead, the CPA is accumulating evidence about the
completeness and reasonableness of the underlying assumptions, as
disclosed in the prospective financial statements. To make the
evaluation, the CPA needs to become familiar with the client’s
business and industry, identify the significant matters on which the
client’s future results are expected to depend (“key factors”), and
determine that appropriate assumptions have been included with
respect to these key factors.
 Penugasan dapat diterima jika:

• Pengguna terlibat dalam menetapkan sifat dan lingkup penugasan

• Pengguna bertanggungjawab atas kecukupan prosedur yang akan
dilakukan
• Distribusi laporan terbatas untuk pengguna ybs
• Laporan keuangan prospektif mencakup ikhtisar asumsi signifikan
yang digunakan
Prospective Financial Statements –
Compilation Engagement

Lingkup

• Menyusun, menurut kebutuhan, laporan keuangan prospektif

berdasarkan asumsi pihak yang bertanggungjawab
• Melaksanakan prosedur kompilasi
• Menerbitkan laporan kompilasi
• It is a non-assurance service
 10

Compilation of prospective financial statement

 Procedure:
1. Inquire of the responsible party as to the underlying assumptions developed.
2. Compile or obtain a list of the underlying assumptions and consider the
possibility of obvious omissions or inconsistencies.
3. Verify the mathematical accuracy of the assumptions
4. Read the prospective financial statements in order to identify departures from
IAS 1 presentation guidelines
5. Obtain a client representation letter in order to confirm that the responsible
party acknowledges its responsibility for the prospective statements
 11

Steps in examining prospective financial

statements
Step1:- examine inherent and control risk
Step2:- consider the sufficiency of internal and external sources of information supporting the
underlying assumptions
step3:- Determine the consistency of the assumptions
Step4:- Determine the reliability and consistency of the historical financial information used
Step5:- Evaluate the preparation and presentation of the prospective financial statements
Step6:- Obtain a client representation letter to confirm that the responsible party
acknowledges its responsibility for the presentation of the prospective financial statements
and the underlying assumptions.
 12

Projecting income statement

 Projecting financial statements must begin with projecting the Income
Statement
 and projecting an Income Statement begins by estimating sales.
 The sales estimate can be tested for plausibility in four different contexts :
◦ Past sales trends
◦ Market share implied by the sales estimate
◦ Its relation to planned marketing efforts
◦ Production capacity
 13

Steps in projecting the income statement

1. Project sales
2. Project cost of goods sold and gross profit margins using historical averages as a percent
of sales
3. Project operating expenses using historical averages as a percent of sales
4. Project depreciation expense as an historical average percentage of beginning-of-year
depreciable assets
5. Project interest expense as a percent of beginning-of-year interest-bearing debt using
existing rates if fixed and projected rates if variable
6. Project tax expense as an average of historical tax expense to pre-tax income
SPA 3400
Pendahuluan
SPA 3400
Pendahuluan
SPA 3400
Pendahuluan
SPA 3400
Keyakinan Auditor dalam Informasi Keuangan Prospektif
SPA 3400
Penerimaan Perikatan
SPA 3400
Pengetahuan Tentang Bisnis
SPA 3400
Pengetahuan Tentang Bisnis
SPA 3400
Periode yang Dicakup
SPA 3400
Prosedur Pemeriksaan
SPA 3400
Prosedur Pemeriksaan
SPA 3400
Prosedur Pemeriksaan
SPA 3400
Penyajian & Pengungkapan
SPA 3400
Laporan atas Pemeriksaan terhadap Informasi Keuangan Prospektif
SPA 3400
Laporan atas Pemeriksaan terhadap Informasi Keuangan Prospektif
SPA 3400
Laporan atas Pemeriksaan terhadap Informasi Keuangan Prospektif
SPA 3400
Laporan atas Pemeriksaan terhadap Informasi Keuangan Prospektif
SPA 3400
Laporan atas Pemeriksaan terhadap Informasi Keuangan Prospektif
SPA 3400
Laporan atas Pemeriksaan terhadap Informasi Keuangan Prospektif
SPA 3400
Laporan atas Pemeriksaan terhadap Informasi Keuangan Prospektif
SPA 3400
Laporan atas Pemeriksaan terhadap Informasi Keuangan Prospektif