When compiling a nonissuer's financial statements, an accountant would be least likely to:

Question

Quizplus · Accepted Answer

Choice "A" is correct. During a compilation of a nonissuer's financial statements, an accountant generally would not perform analytical procedures (Analytical procedures are required in a review.). Choice "B" is incorrect. The accountant compiling financial statements generally would read those statements to consider whether they appear to include adequate disclosure. Choice "C" is incorrect. The accountant compiling financial statements might omit substantially all of the disclosures required by GAAP. Choice "D" is incorrect. The accountant compiling financial statements might issue a compilation report on one or more, but not all, of the basic financial statements.

When Compiling a Nonissuer's Financial Statements, an Accountant Would Be