Evaluate the following comments about compiled financialstatements: "When CPAs associate their name with compiled financialstatements, their only responsibility is to the client and that is limited to the proper summarization and presentation on the financial statements of information provided by the client. The opinion clearly states that the auditor has not conducted an audit and does not express an opinion on this fair presentation. If users rely on compiled financialstatements, they do so at their own risk and should never be able to hold the CPA responsible for inadequate performance. Users should interpret the financial statements as if they had been prepared bymanagement." (Select four comments thatapply.)

A.

The accountant should always make inquiries to verify information provided by client personnel to understand the industry and look for unusual trends.

B.

The report must be properly prepared and reflect the findings of the accountant.

C.

The report must list any additional analytical procedures performed if the accountant becomes concerned the information is incorrect or incomplete.

D.

The courts have not established the responsibilities of accountants for compilations.Therefore, even though responsibilitiesexist, the level has yet to be finalized.

E.

Users other than management are not prohibited from using compiled financial statements. They can expect the accountant to meet the standards set by the profession.

F.

The accountant is responsible for preparing the documentation of the limited proceduresperformed, evidenceexamined, and the conclusions reached.

G.

The accountant is responsible for due care in the preparation of compiled financial statements