When readers are cautioned that the financial statements may not be appropriate for their purposes,the non-assurance service is called a(n)
A)SysTrust.
B)compilation.
C)review.
D)audit.

Question

Quizplus · Accepted Answer

A compilation is a non-assurance service where the accountant assists in preparing the financial statements but does not perform any procedures to verify the accuracy or completeness of the data. The accountant may issue a disclaimer indicating that no assurance is provided, which means the financial statements may not be appropriate for all users' purposes.

When Readers Are Cautioned That the Financial Statements May Not