Which of the following would an accountant not need to know when conducting a compilation?
A) The accounting principles and practices of the industry in which the entity operates.
B) A general understanding of the nature of the entity's business transactions and the form of its accounting records.
C) The accounting basis on which the financial statements are to be presented.
D) The accountant would need to know all of the above when conducting a compilation.

Question

Quizplus · Accepted Answer

An accountant conducting a compilation would need to know all of the given factors, as they are essential for the preparation of accurate financial statements.

Which of the Following Would an Accountant Not Need to Know