4. When performing a review of interim financial information of a publicly traded company, the independent accountant is trying to determine if: (a) (b) (c) (d) The financial statements are prepared in accordance with GAAP and are fairly stated. Material modifications need to be made to the financial statements in order to bring them in conformity with GAAP. Condensed financial statements should be included in a client registration statement. There is a reasonable basis for expressing an opinion on the financia statements taken as a whole. cash 5. Ifan auditor prepared a report on financial statements prepared using the and disbursements basis of accounting, the report issued would receipts include all of the following except: (a) A statement that the audit was performed in accordance with GA (b) An opinion as to whether the financial statements are fairly stated in AS. accordance with the cash receipts and disbursements basis of accounting. A reference to the note in the financial statements that describes the cash receipts and disbursements basis of accounting. A statement to the effect that the cash receipts and disbursements basis of accounting is not a comprehensive basis of accounting. (c) (d) 6. When an independent CPA is engaged to assist in preparing the financial statements of a publicly held company, but has not audited or reviewed these statements, the CPA should issue a disclaimer of opinion. In these situations, the CPA has no responsibility other than: (a) Reading the financial statements for obvious material misstatements (b) Determining whether the financial statements are prepared in conformity with GAAP Determining whether management has elected to substantially omit all required disclosures. Documenting that internal control is not being relied upon. (c) (d)