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Author Question: In a review service where the client has failed to follow applicable accounting standards, the accountant is (Read 58 times)

knemetz3

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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.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by knemetz3 on Aug 21, 2022

rika06@comcast.net

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Reply #1 on: Aug 21, 2022
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knemetz3

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Reply 2 on: Aug 21, 2022
Thanks for the timely response, appreciate it

sultansheikh

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Reply 3 on: Yesterday
Wow, this really help

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