FYI - Pro Forma The accountant may perform either a preparation engagement or a compilation of prospective financial information (a review of such prospective financial information is not permitted).

When engaged to prepare prospective financial information or issue a compilation report on prospective financial information: 1. Significant assumptions—The accountant should not prepare (or issue a compilation report on) prospective financial information that omits disclosure of the summary of significant assumptions; the entity's financial statements should also include a summary of significant accounting policies. 2. Financial projections—The accountant should not prepare or issue a compilation report on a financial projection that (a) fails to identify the hypothetical assumptions or that (b) omits a description of the limitations of the usefulness of the projection; any report on a projection should be restricted to specified users, consisting of third parties in direct negotiation with the responsible party (which allows them to ask questions about the presentation). **When issuing a compilation report on prospective financial information—The report should include statements that (a) the forecasted/projected results may not be achieved; and (b) the accountant assumes no responsibility to update the report for matters occurring after the date of the report. (Any report on a “projection” must have restricted distribution; only a report on a “forecast” is permitted to have general distribution.)**