When an independent CPA is associated with the financial statements of a publicly held entity but has not audited or reviewed such statements, the appropriate form of report to be issued must include a(an):

Question

Quizplus · Accepted Answer

Choice "D" is correct. When an accountant is associated with the financial statements of a public entity, but has not audited or reviewed such statements, the accountant must issue a report disclaiming any opinion on the statements. Choices "A", "B", and "C" are incorrect since a disclaimer is required in this case.

When an Independent CPA Is Associated with the Financial Statements