In a review engagement, the accountant must make all of the following inquiries except those to:
A)Identify subsequent events having a material effect on the statements.
B)Understand internal controls.
C)Identify actions taken at stockholders' meetings.
D)Ascertain whether statements are in accordance with GAAP.

Question

Quizplus · Accepted Answer

Understanding internal controls is more relevant to an audit engagement rather than a review engagement. In a review, the accountant primarily performs analytical procedures and inquiries to management, rather than an in-depth evaluation of internal controls.

In a Review Engagement, the Accountant Must Make All of the Following