AR-C 80, Compilation Engagements _______.
A)provides guidance on materiality thresholds
B)assists the auditor with respect to fee arrangements
C)provides guidance for the performance of a compilation engagement
D)provides guidance for the performance of an audit engagement

Question

Quizplus · Accepted Answer

AR-C 80 provides guidance for the performance of a compilation engagement. It outlines the standards and procedures that should be followed when preparing financial statements but does not provide guidance on materiality thresholds or fee arrangements. It is separate from the auditing standards, which provide guidance for the performance of an audit engagement.