Immersing in audit

   Compilation report is needed to communicate the nature of the compilation engagement, and the practitioner’s role and responsibilities in the engagement. It does not contain either an opinion or conclusion on financial statements because under the compilation engagement a practitioner applies accounting and financial reporting expertise to assist management in the preparation and presentation of financial information of an entity in accordance with an applicable financial reporting framework.

  To the Shareholders and the Board of Directors of NS Communications Inc.:   Report on  internal control over financial reporting Opinion on Internal Control Over Financial Reporting   We have audited NS Communications Inc. and subsidiaries’ (NS) internal control over financial reporting as of December 31, 2022, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the COSO criteria ). In our opinion, NS maintained, in all material respects, effective internal control over financial reporting as of December 31, 2022, based on the COSO criteria.   We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) ( PCAOB ), the consolidated balance sheets of NS as of December 31, 2022 and 2021, the related consolidated statements of income , comprehensive income , cash flow...

Pro forma financial information is financial information shown together with adjustments to illustrate the impact of an event or transaction on unadjusted financial information as if the event had occurred or the transaction had been undertaken at an earlier date selected for purposes of the illustration. It is presumed that pro forma financial information is presented in columnar format consisting of a) the unadjusted financial information. b) the pro forma adjustments ; and (c) the resulting pro forma column . Different presentations of pro forma financial information may be included in the prospectus depending on the nature of the event or transaction and how the responsible party intends to illustrate the impact of such event or transaction on the unadjusted financial information of the entity. Below is presented the example of pro forma statement of profit and loss .