SSARS contain several procedures that are required when engaged to perform a compilation or review engagement. Below are ten statements that may or may not be relevant to a compilation or review engagement. For each of the ten statements, indicate whether the procedure is to be performed in a compilation or reviewengagement.

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Required for a Compilation Engagement? Engagement? Review Description of Procedure 1 Obtain a written engagement letter. 2. Understand the dient's industry and the nature of the 3. Read the financial statements. 4. Design and perform analytical procedures. 5. Make inquiries of client management. 6. Perform tests of controls 7. Assess fraud risk. 8. Obtain a letter of representation from management. re documentation in sufficient detail to provide a clear understanding of the work performed. Issue a report that contains limited assurance about whether the accountant is aware of the need for material modification to the financial statements. 10.