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Bigfoot, CPA, has been asked to express an opinion on the accounts receivable account of White Bear Company, but not on the other accounts. Bigfoot
Bigfoot, CPA, has been asked to express an opinion on the accounts receivable account of White Bear Company, but not on the other accounts. Bigfoot will have access to all the information underlying the basic financial statements. May Bigfoot accept the engagement? a. Yes, Bigfoot may accept the engagement because such engagements merely involve limited reporting objectives (this does not result in a report on the financial statements taken as a whole). b. Yes, Bigfoot may accept the engagement, but should disclaim an opinion because of an inability to apply the procedures considered necessary in the circumstances. c. No, Bigfoot should refuse the engagement because of a client-imposed scope limitation. No, Bigfoot should refuse the engagement because it is tantamount to the expression of a piecemeal opinion on the financial statements
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