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Which of the following describes how the objective of a review of financial statements differs from the objective of a compilation engagement? The primary objective
Which of the following describes how the objective of a review of financial statements differs from the objective of a compilation engagement? The primary objective of a review engagement is to provide positive assurance that the financial statements are fairly presented, but a compilation provides no such assurance. In a review engagement, accountants provide limited assurance, but a compilation expresses no assurance. The primary objective of a review engagement is to test the completeness of the financial statements prepared, but a compilation tests for reasonableness. In a review engagement, accountants provide reasonable or positive assurance that the financial statements are fairly presented, but a compilation provides limited assurance. Which of the following describes how the objective of a review of financial statements differs from the objective of a compilation engagement? The primary objective of a review engagement is to provide positive assurance that the financial statements are fairly presented, but a compilation provides no such assurance. In a review engagement, accountants provide limited assurance, but a compilation expresses no assurance. The primary objective of a review engagement is to test the completeness of the financial statements prepared, but a compilation tests for reasonableness. In a review engagement, accountants provide reasonable or positive assurance that the financial statements are fairly presented, but a compilation provides limited assurance
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