Inquiry and analytical procedures ordinarily performed during a review of a nonpublic entity's financial statements include
A) Analytical procedures designed to identify material weaknesses in internal control.
B) Inquiries concerning actions taken at meetings of the stockholders and the board of directors.
C) Analytical procedures designed to test the accounting records by obtaining corroborating evidential matter.
D) Inquiries of knowledgeable outside parties such as the client's attorneys and bankers.

Question

Quizplus · Accepted Answer

Inquiries concerning actions taken at meetings of the stockholders and the board of directors are part of the review process to understand significant events and decisions that may affect the financial statements.

Inquiry and Analytical Procedures Ordinarily Performed During a Review of a Nonpublic