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LO 19-2, 4, 8 19-33. Simulation Indicate whether a CPA may provide each of the following services, and whether independence is required, by placing
LO 19-2, 4, 8 19-33. Simulation Indicate whether a CPA may provide each of the following services, and whether independence is required, by placing a check in the appropriate box. Service a. Provide an opinion on whether financial statements are prepared following the cash basis of accounting. b. Compile the financial statements for the past year and issue a publicly available report. c. Apply certain agreed-upon procedures to accounts receivable for purposes of obtaining a loan, and express a summary of findings relating to those procedures. d. Review quarterly information and issue a report that includes limited assurance. e. Perform an audit of the financial statements on whether they are prepared following generally accepted accounting principles. f. Prepare the financial statements for the past year. May Provide; Independence Is May Provide; Independence Required Is Not Required May Not Provide
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