The quarterly reports submitted to the SEC by the client
◦ have to be audited, and the CPA firm must be identified.
◦ do not have to be audited, but the CPA firm which does the annual audit must be identified.
◦ have to be audited, but the CPA firm does not have to be identified.
◦ do not have to be audited, but the CPA firm which does the annual audit must review the quarterly statements before they are submitted to the SEC.