Can the CPAs report on a nonpublic client's financial statements that omit substantially all disclosures required by

Question:

Can the CPAs report on a nonpublic client's that omit substantially all disclosures required by generally accepted accounting principles? Explain.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...