Which of the following is not true about documentation requirements related to a review of a nonissuer's financial statements?

Question

Quizplus · Accepted Answer

Choice "C" is correct. The accountant is not required to evaluate control risk or test the operating effectiveness of controls in a review of a nonpublic entity's financial statements. Choice "A" is incorrect. Written documentation from other types of engagements may be used to provide support for the review report. Choice "B" is incorrect. A management representation letter should be obtained in review engagements, and a copy should be included in the documentation files. Choice "D" is incorrect. Documentation should include the results of analytical procedures (i.e., procedures performed, expectations and how they were developed, results of comparison to recorded amounts, and procedures performed with respect to significant differences).

Which of the Following Is Not True About Documentation Requirements