Question
19 36 Loman, CPA, who has audited the financial statements of the Broadwall Corporation, a publicly held company, for the year ended December 31, 20X6,
19 36
Loman, CPA, who has audited the financial statements of the Broadwall Corporation, a publicly held company, for the year ended December 31, 20X6, was asked to perform a review of the financial statements of Broadwall Corporation for the period ending March 31, 20X7. The engagement letter stated that a review does not provide a basis for the expression of an opinion.
a. Explain why Lomans review will not provide a basis for the expression of an opinion.
b. What are the review procedures Loman should perform, and what is the purpose of each
procedure? Structure your response as follows:
Procedure: Purpose of Procedure:
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Accounting Tools for business decision making
Authors: kimmel, weygandt, kieso
4th Edition
978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461
