What does the review service provided by the CPA firm require?

Question

Quizplus · Accepted Answer

The review service provided by the CPA firm requires the CPA to make inquiries concerning matters affecting the financial statements. This includes obtaining knowledge about the entity's business and obtaining sufficient evidence to provide a basis for expressing limited assurance that there are no material modifications needed to be made to the statements in order for them to conform to generally accepted accounting principles. The other choices (B,C,D) are not necessary for a review engagement.

What Does the Review Service Provided by the CPA Firm