Which of the following procedures ordinarily should be applied when an independent accountant conducts a review of interim financial information of a publicly held entity?
A)Verify changes in key account balances.
B)Read the minutes of the board of directors' meetings.
C)Inspect the open purchase order file.
D)Perform cut-off tests for cash receipts and disbursements.

Question

Quizplus · Accepted Answer

Reading the minutes of the board of directors' meetings is a standard procedure in a review of interim financial information to understand significant events and decisions that may affect the financial statements.

Which of the Following Procedures Ordinarily Should Be Applied When