A compiled financial report should be accompanied by a report stating all of the following except:
A) a compilation has been performed.
B) the accountant does not express an opinion or any other form of assurance on the report.
C) a compilation consists principally of inquiries of company personnel and analytical procedures applied to financial data.
D) a compilation is limited to presenting in the form of a financial report, information that is the representation of management.

Question

Quizplus · Accepted Answer

A compilation does not involve inquiries or analytical procedures; it is limited to presenting information provided by management.

A Compiled Financial Report Should Be Accompanied by a Report