Author Question: In a review service where the client has failed to follow applicable accounting standards, the accountant is (Read 53 times)

knemetz3 · **on:** Aug 21, 2022

Question 1

In a preparation service engagement,
◦ the CPA's responsibilities are similar to those performed during a review.
◦ the CPA does not provide any assurance of the financial statements.
◦ the CPA must issue a preparation service engagement report.
◦ the CPA must be independent.

Question 2

In a review service where the client has failed to follow applicable accounting standards, the accountant is
◦ not required to determine the effect of a departure if management has not done so, but that fact must be disclosed in the report.
◦ required to determine the effect of a departure if management has not done so, and that fact must be disclosed in the report.
◦ not required to determine the effect of a departure if management has not done so, and that fact need not be disclosed in the report.
◦ required to determine the effect of a departure if management has not done so, and that fact need not be disclosed in the report.

rika06@comcast.net · **Reply #1 on:** Aug 21, 2022

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