A nonaudit engagement in which the accountant undertakes to present, in the form of financial statements, information that is the representation of management, without undertaking to express any assurance on the statements is called a review engagement.

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This description refers to a compilation engagement, not a review engagement. In a review engagement, the accountant performs inquiry and analytical procedures to provide a limited assurance that there are no material modifications that should be made to the financial statements.

A Nonaudit Engagement in Which the Accountant Undertakes to Present