Which of the following statements regarding financial statement analysis reports is false?

Evidential matter includes financial statements and information used in the analysis, including ratios, trends, comparisons and all analytical measures.

The executive summary provides a brief analysis of results and conclusions.

The assumptions section includes a list of assumptions about a companys industry and economic environment, and other assumptions underlying estimates..

The analysis overview includes background on the company, its industry, and the economy.

Accounting standards determine which ratios are relevant and useful for the analysis.