Each page of the financial statements compiled by an accountant may include a reference such as:
A)See accompanying accountant's notes.
B)Unaudited,see accountant's opinion.
C)See accountant's compilation report.
D)Subject to compilation restrictions.

Question

Quizplus · Accepted Answer

The reference "See accountant's compilation report" indicates that the accountant has compiled the financial statements and issued a report providing assurance on the compilation process. This is the most appropriate reference to include in the financial statements.

Option A, "See accompanying accountant's notes" may be included if the accountant has provided additional information or disclosures as part of their work, but it does not indicate whether the accountant has issued a report or provided any assurance.

Option B, "Unaudited, see accountant's opinion" is contradictory because an opinion can only be issued for an audit, review, or compilation engagement. If the financial statements are unaudited, a compilation report would be provided instead.

Option D, "Subject to compilation restrictions" is not a commonly used reference and may not provide a clear indication of the nature of the accountant's work or any associated limitations.

Each Page of the Financial Statements Compiled by an Accountant