Which of the following procedures is usually performed by the accountant in a review engagement of a nonissuer?

Question

Quizplus · Accepted Answer

Choice "b" is correct. Comparing the financial statements with statements for comparable prior periods (analytical procedures) is a procedure that is usually performed by the accountant in a review engagement of a nonissuer. Choice "a" is incorrect. Sending a letter of inquiry to the entity's lawyer is a procedure generally performed only in an audit of an entity's financial statements. Choice "c" is incorrect. Confirming a significant percentage of receivables by direct communication with debtors is a procedure generally performed only in an audit of an entity's financial statements. Choice "d" is incorrect. Communicating significant deficiencies discovered during the study of the internal control structure is a procedure generally performed only in an audit of an entity's financial statements. (The internal control structure is generally not evaluated in a review engagement.)

Which of the Following Procedures Is Usually Performed by the Accountant