An assurance provider who reviews the financial report of a non-reporting entity should issue a report containing the statement that a review:
A)provides limited assurance that internal control is functioning as designed.
B)provides a level of assurance that is less than that given in an audit.
C)is substantially more in scope than a compilation.
D)provides a high level of assurance based on enquiry and analytical procedures.

Question

Quizplus · Accepted Answer

A review provides a lower level of assurance than an audit.

An Assurance Provider Who Reviews the Financial Report of a Non-Reporting