Which of the following engagements requires less evidence than a review of financial statements?

Question

Quizplus · Accepted Answer

A compilation engagement requires less evidence than a review of financial statements because the accountant is not required to provide any assurance on the financial statements or perform any procedures to obtain evidence. Rather, they simply compile the financial information provided by the client into a financial statement format. A review engagement requires the accountant to perform analytical procedures and make inquiries, while an audit and examination require even more extensive procedures and evidence gathering. Attestation, while a type of engagement, is not directly comparable to the others as it encompasses a variety of services that may involve varying levels of evidence.

Which of the Following Engagements Requires Less Evidence Than a Review