A review of historical financial statements is an example of ________.
A)attestation service
B)absolute assurance
C)financial forecast
D)applicable financial reporting framework

Question

Quizplus · Accepted Answer

Review of historical financial statements is an example of attestation service where the CPA provides limited assurance on the financial statements presented by the client. Option B is incorrect as absolute assurance is not achievable in attestation services. Option C is incorrect as financial forecast involves making future projections and not reviewing past financial statements. Option D is incorrect as applicable financial reporting framework refers to the rules and principles used in preparing financial statements, and not the review of financial statements themselves.

A Review of Historical Financial Statements Is an Example of ________