er 21 Other audit engagements 30. When a CPA performs a statements of a nonpublic entity, the CPA compilation, a review, and an audit, concerning the financial ordinarily should issue ink of the highest level of service rendered) the report(s) that is(are) appropriate for (Hint: Th a. the audit engagement. b. the compilation engagement c. the review engagement d. the audit, compilation, and review engagements. Which of the following types of consider the issue of other audit engagements requires the auditor to carefully t substance over form" in forming an opinion? fo a. In an audit of specified elements, accounts or items. b. In an audit of compliance with debt agreement. c. In an audit of financial statements prepared on a comprehensive basis other than GAAP d. In a revi ew of interim financial information of public companies. regard to an attestation engagement of prospective financial statements that include orecasted and projected items, which of the following is not a correct statement? With both f a. Th e auditor states the reasonableness of the underlying and hypothetical assumptions in the opinion paragraph of the attestation report. b. The auditor provides a statement that the prospective results may not be met in the attestation report. c. The auditor issues either a positive opinion, a negative opinion, or express no opinion in the attestation report. d. The auditor provides a statement that s/he assumes no responsibility to update the attestation report for subsequent events. 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) a. The CPA must perform the basic TOC and TOB procedures necessary to determine that the statements are in conformity with GAAP b. The CPA may issue a positive opinion for this type of service. c. The CPA must review the effectiveness of a client's internal control for this type of service d. The CPA is not performing this type of service according to the Statements on Auditing Standards (SASs)