A practitioner is required to be independent to perform:
$ \begin{array}{llll} & \text {Audits } & \text { Reviews } & \text { Compilations } \\end{array} $
A)$ \begin{array}{llll} \text { Yes } &\quad\quad \text { Yes } &\quad\quad \text { Yes } &\end{array} $
B)$ \begin{array}{llll} \text { Yes }&\quad\quad \text { Yes } & \quad\quad\text { No } \\end{array} $
C)$ \begin{array}{llll} \text { Yes } &\quad\quad \text { No } &\quad\quad\ \text { No } \\end{array} $
D)$ \begin{array}{llll} \text { Yes } & \quad\quad\text { No } &\quad\quad \text { Yes }\end{array} $

Question

A practitioner is required to be independent to perform:
 $ \begin{array}{llll} & \text {Audits } & \text { Reviews } & \text { Compilations } \\end{array} $
A)$ \begin{array}{llll}  \text {  Yes } &\quad\quad \text { Yes } &\quad\quad \text { Yes } &\end{array} $
B)$ \begin{array}{llll}   \text { Yes }&\quad\quad \text { Yes } & \quad\quad\text { No  }  \\end{array} $
 C)$ \begin{array}{llll}  \text {  Yes } &\quad\quad \text { No } &\quad\quad\ \text { No } \\end{array} $
 D)$ \begin{array}{llll}  \text { Yes } & \quad\quad\text { No } &\quad\quad \text { Yes }\end{array} $

Quizplus · Accepted Answer

Independence is a requirement for practitioners performing audits and reviews because these engagements involve giving an opinion on the financial statements, which requires objectivity. For compilations, independence is not a requirement because the practitioner is merely compiling the financial information provided by management without giving an assurance on its accuracy.

A Practitioner Is Required to Be Independent to Perform Audits Reviews Compilations \begin{array}{llll} & \text {Audits } & \text { Reviews } & \text { Compilations } \\\end{array} ​Audits ​ Reviews ​ Compilations ​

A Practitioner Is Required to Be Independent to Perform $\begin{array}{llll} & \text {Audits } & \text { Reviews } & \text { Compilations } \\\end{array}$