7. Financial statements of a non-public entity compiled without audit or review by an accountant, which are expected to be used by a third party, should be accompanied by a report stating that: a) The scope of the accountants procedures has not been restricted in testing the financial information that is the representation of management. b) The accountant assessed the accounting principles used and significant estimates made by management. c) The accountant does not express an opinion or any other form of assurance on the financial statements. d) A compilation consists principally of inquiries of entity personnel and analytical procedures applied to financial data.