Question: Before issuing a report on the compilation of financial statements of a non- public entity, the accountant should: a. Apply analytical procedures to selected financial data to discover any material misstatements. b. Corroborate at least a sample of the assertions management has embodied financial in the statements. c. Inquire of the client's personnel whether the financial statements omit substantially all disclosures. d. Read the financial statements to consider whether the financial statements are free from obvious material errors.
Question: Before issuing a report on the compilation of financial statements of a non- public entity, the accountant should: a. Apply analytical procedures to selected financial data to discover any material misstatements. b. Corroborate at least a sample of the assertions management has embodied financial in the statements. c. Inquire of the client's personnel whether the financial statements omit substantially all disclosures. d. Read the financial statements to consider whether the financial statements are free from obvious material errors.
Chapter2: Audits Of High-risk Accounts
Section2.7: Bankrate, Inc.
Problem 3Q
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Transcribed Image Text:Question:
Before issuing a report on the compilation of financial statements of a non-
public entity, the accountant should:
a. Apply analytical procedures to selected financial data to discover any
material
misstatements.
b. Corroborate at least a sample of the assertions management has
embodied
financial
in
the
statements.
c. Inquire of the client's personnel whether the financial statements omit
substantially
all
disclosures.
d. Read the financial statements to consider whether the financial
statements are free from obvious material errors.
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