All of the following are steps that should be performed in a review engagement except for
A) understand the company's ownership structure.
B) read the company's financial statements.
C) perform analytical procedures.
D) assess fraud risk.

Question

Quizplus · Accepted Answer

While fraud risk assessment is required in both review and audit engagements, it is not a step that is performed specifically in a review engagement. The other choices (understanding ownership structure, reading financial statements, and performing analytical procedures) are all necessary steps in a review engagement.

All of the Following Are Steps That Should Be Performed