If no, or insubstantial, accounting procedures were used in the compilation of the document, a financial statement is considered ________.

Question

Quizplus · Accepted Answer

If no, or insubstantial, accounting procedures were used in the compilation of a document, the financial statement is considered unaudited. This means it has not undergone the formal process of examination and verification by an independent auditor.

If No, or Insubstantial, Accounting Procedures Were Used in the Compilation