. wren a review report-modified for departure from generom.esepiea "ecowwng never wclude in the opeion d. None of the albove the aneuaal inanciai a it is a public company b, the user does no insist on having audiked finarcias d. tax returns are not going to be filed 1Q. A summary of findings ts included m a, agreed-upon procedures report b. compilation report d. review report The objective of an audit of a grant is to ensure a. The grantor is solvent b. The grantee is a college student c. The grants are non-taxable d. The grant is used for its intended purpose 11. add@d th g paragraph to its report: We were not independent with respect to 12. e followin xYz Company. What type of engagement was most Wikely performed? a. An examination b. An audit C. A compilation d. A review Which of the following must be obtained in a review of a nonpublic company? 13. No Yes Yes No Yes No b. C. d. Yes No When compiling financial statements, an accountant should a. Review agreements for restrictions on cash b. Understand the practices of the entity's industry c. Inquire of key personnel about subsequent events d. Perform ratio analyses of the financial data 14. 15. When auditing a client's MD&A to be filed with the SEC, the CPA (i) Must have audited the current year's financial statements (i) Can say the statements are in conformity with the rules of the SEC