Compared to an audit of historical financial statements, a review engagement is _______.
A)less extensive and also less expensive
B)more extensive and also more expensive
C)less extensive but more expensive
D)more extensive but less expensive

Question

Quizplus · Accepted Answer

A review engagement is less extensive than an audit and is also typically less expensive. However, it still provides limited assurance on the financial statements.

Compared to an Audit of Historical Financial Statements, a Review