There are three Corporate Finance related pronouncements.
APES 345 Reporting on Prospective Financial Information Prepared in connection with a Public Document (APES 345)
APES 345 specifies the mandatory professional and ethical obligations of a member in public practice who undertakes an engagement to prepare a report on or in connection with prospective financial information included in a public document.
APES 345 outlines the requirements for members in respect of documentation, reporting, communication with those charged with governance and professional fees.
APES 350 Participation by Members in Public Practice in Due Diligence Committees in connection with a Public Document (APES 350)
APES 350 sets out mandatory professional requirements and guidance for members in public practice who provide professional services to a client by participating in and/or reporting to a Due Diligence Committee (DDC) as a DDC member, DDC observer or reporting person.
The standard specifies the professional obligations in respect of the different roles and obligations of a member in public practice who is on a DDC, as well as the member’s reporting obligations to a DDC. The standard has a pro-forma DDC sign-off and a materiality letter that can be used by a member in public practice who acts as a DDC member, DDC observer or reporting person.
APES GN 31 Professional and Ethical Considerations relating to Low Doc Offering Sign-offs (APES GN 31)
APES GN 31 provides guidance for members in public practice when performing Low Doc Offering Engagements. The guidances considers the fundamental responsibilities of the members as well as the roles and responsibilities relating to the Low Doc Offering Engagement. The guidance also considers engagement circumstances that may enable or preclude the issue of a Low Doc Offering Sign-off and reporting and documentation considerations.
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