Which of the following is correct relating to compiled financial statements?
A)A compilation report must be issued.
B)Omission of note disclosures is unacceptable.
C)A written agreement with the client (ordinarily,an engagement letter)is not required.
D)Each page of the financial statements should have a restriction such as "Restricted for Management's Use Only".

Question

Quizplus · Accepted Answer

A compilation report must be issued when compiled financial statements are prepared, as it provides a summary of the accountant's responsibilities and the nature of the engagement.

Which of the Following Is Correct Relating to Compiled Financial