AUDITING RMU
AUDITING RMU
11th Edition
ISBN: 9781260934830
Author: MESSIER
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 21, Problem 21.34P
To determine

Introduction: The compilation of financial statements is made by an accountant. The accountant only compiles the statements and does not audit such statements. The accountant is not responsible for verifying the transactions and numbers in the financial statements, so statements compiled by an accountant should not be considered as true and fair, unlike certified financial statements.

To identify: The deficiencies given in the question are correct or incorrect.

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