Question
A CPA has been engaged to perform a review of financial statements service for a client. Identify which of the following is a correct statement
A CPA has been engaged to perform a review of financial statements service for a client. Identify which of the following is a correct statement (Hint: Think of the nature of a review service).
Select one:
a. The CPA must review the effectiveness of a clients internal control for this type of service.
b. The CPA is not performing this type of service according to the Statements on Auditing Standards (SASs).
c. The CPA may issue a positive opinion for this type of service.
d. The CPA must perform the basic TOC and TOB procedures necessary to determine that the statements are in conformity with GAAP.
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