APES 345 Reporting on Prospective Financial Information Prepared in Connection with a Disclosure Document

APES 345 requires members to observe and comply with their public interest obligations when they undertake reporting service engagements. Further they must comply with Section 100 – Introduction and Fundamental Principles of APES 110 Code of Ethics for Professional Accountants (the Code) and relevant law.

APES 345 requires that members comply with their professional obligations established in accordance with the Code in respect of:

• Section 130 – Professional Competence and Due Care
• Section 140 – Confidentiality
• Section 220 – Conflict of Interest
• Section 280 – Objectivity – All Services

APES 345 provides guidance in relation to the types of relationships that may create threats to the fundamental principles of the Code. Examples of such threats include but are not limited to:

• financial interests
• loans and guarantees
• close business relationships with the client
• employment relationships with the client
• family and personal relationships.

Where threats cannot be eliminated or reduced to an acceptable level, the member must refuse to accept or continue the reporting service engagement.

• definitions
• public interest
• professional competence and due care
• confidentiality
• the provision of other professional services
• documentation
• communication with those charged with governance
• professional fees
• threatened and actual litigation
• conformity with international pronouncements