contestada

An accountant’s standard report on a compilation should state that the accountant

(A) Has not audited or reviewed the accompanying financial statements.
(B) Obtained an understanding of the accounting practices in the client’s industry.
(C) Is not aware of any material modifications that should be made to the financial statements for them to conform with GAAP.
(D) Is not responsible for disclosing errors, fraud, or illegal acts.

Respuesta :

Emhicee

Answer:

A, Has not audited or reviewed the accompanying financial statements.

Explanation:

It is important that an accountant states that the financial statements of a compilation hasn't been reviewed so as to avoid a situation wherein the financial statement is not in accordance with accounting principles of the country, e.g United states.

An accountant is meant to just prepare financial statements for an organization without going against the accounting principles while management is responsible for presentaion of the financial statements.

Cheers. i hope this helps

Otras preguntas