Question
1) Which agreements often require compliance reports prepared by independent auditors. To provide this service the auditors must a.Have been authorized by the pcaob b.Have
1) Which agreements often require compliance reports prepared by independent auditors. To provide this service the auditors must
a.Have been authorized by the pcaob
b.Have been approved by the sec
c.Have audited the related financial statements
d.None of the above
2) Interim financial information filed by public companies with the SEC may be
(i) Audited (ii) Reviewed
a.(i) only
b.(ii) only
c.Either (i) or (ii)
d.Both (i) and (ii)
3) A review of the annual financial statements is preferred to an audit when
a.Its a public company
b.The user does not insist on having audited financials
c.When revenues are less than $10 million
d. Tax returns are not going to be filed
4)When auditing a clients MD&A to be filed with the SEC, the CPA
(i) Must have audited the current years financial statement
(ii) Can say the statements are in conformity with the rules of the SEC
a. Only (i) is correct
b. Only (ii) is correct
c. Both (i) and (ii) are correct
d. Neither (i) nor (ii) is correct
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