When assessing the plausibility of the financial statements for a review engagement,the auditor will use which of the following criteria for auditing a small,privately held company?

Question

Quizplus · Accepted Answer

When assessing the plausibility of financial statements for a review engagement, the auditor will use an acceptable reporting framework such as ASPE to ensure that the financial statements are in compliance with the reporting requirements. Standards of efficiency and effectiveness (A) and an enterprise risk-management framework (D) are not relevant in this context, and the audit objectives associated with the audit of financial statements (B) is too broad to be the only correct answer.

When Assessing the Plausibility of the Financial Statements for a Review