Question
Which of the following procedures is ordinarily performed by an accountant in a compilation engagement? Select one: a. Making inquiries of management concerning actions taken
Which of the following procedures is ordinarily performed by an accountant in a compilation engagement?
Select one:
a.
Making inquiries of management concerning actions taken at meetings of the stockholders and board of directors.
b.
Reading the financial statements to consider whether they are free of obvious mistakes in the application of accounting principles applied in their being compiled.
c.
Applying analytical procedures designed to corroborate managements assertions that are embodied in the financial statements.
d.
Obtaining written representations from management indicating that the compiled financial statements will not be used to obtain credit.
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