Theodore Heinrich prepared a set of financial statements based on information provided to him. He checked mathematical accuracy of the data, and the client complimented him on the reasonable cost of the work he performed. Theodore performed
A) a compilation
B) a review
C) an audit
D) none of the above

Question

Quizplus · Accepted Answer

Theodore performed a compilation engagement, which is the preparation of financial statements from information provided by the client without expressing any assurance. The fact that he checked the mathematical accuracy of the data suggests that he performed this basic level of service.

Theodore Heinrich Prepared a Set of Financial Statements Based on Information