Prospective Financial Information (Pro Forma), defined **A Requirement to Perform a Compilation of Pro Forma Financial Information—The historical financial statements on which the pro forma information is based must have been compiled, reviewed, or audited.** **The accountant is not required to be independent since no assurance is provided. If the accountant is not independent, the compilation report should indicate that fact.** **The accountant may “assist” with the preparation of pro forma financial information without issuing a compilation report (when the accountant has not been engaged to “compile” such information).**