Which of the following is a correct statement regarding review, compilation, and preparation services?
A) A written engagement letter is not needed for a review, compilation or preparation service.
B) The Statements on Standards for Accounting and Review Services (SSARS) clarity project used international standards as the base standard when revising the SSARS.
C) CPAs must be independent of the client in a review service engagement and for an audit engagement.
D) The amount of evidence accumulated in a review is minimal.

Question

Quizplus · Accepted Answer

CPAs must be independent of the client in a review service engagement, but for an audit engagement, independence is required by the auditing standards.

Which of the Following Is a Correct Statement Regarding Review