Which of the following statements should not be included in an accountant's standard report based on the compilation of an entity's financial statements?

Question

Quizplus · Accepted Answer

Choice "C" is correct. An accountant's standard compilation report of an entity's financial statements should not include a statement that the accountant does not express an opinion but expresses only limited assurance on the financial statements. An accountant should not express any level of assurance on compiled financial statements. Choice "A" is incorrect. An accountant's standard compilation report should include the statement that the compilation was performed in accordance with Statements on Standards for Accounting and Review Services issued by the AICPA. Choice "B" is incorrect. An accountant's standard compilation report should include the statement that the accountant has not audited or reviewed the financial statements. Choice "D" is incorrect. An accountant's standard compilation report should include the statement that a compilation is limited to presenting, in the form of financial statements, information that is the representation of management.

Which of the Following Statements Should Not Be Included in an Accountant's