[Unaudited financial statements] ABC Company hires Abe,an accountant,to create financial statements.Abe creates the financial statements without using general accounting procedures and clearly marks the statements as "unaudited".
-Could Abe be liable for the contents of the financial statements?

Question

Quizplus · Accepted Answer

A)A financial statement is considered unaudited if no,or insubstantial,accounting
procedures were used in the compilation of the document.Accountants are not liable for the contents of an unaudited financial statement.
B)A financial statement is considered unaudited if no,or insubstantial,accounting procedures were used in the compilation of the document.Accountants are not liable for the contents of an unaudited financial statement.
C)A financial statement is considered unaudited if no,or insubstantial,accounting procedures were used in the compilation of the document.Accountants are not liable for the contents of an unaudited financial statement.
D)A financial statement is considered unaudited if no,or insubstantial,accounting procedures were used in the compilation of the document.Accountants are not liable for the contents of an unaudited financial statement.
E)A financial statement is considered unaudited if no,or insubstantial,accounting procedures were used in the compilation of the document.Accountants are not liable for the contents of an unaudited financial statement.

[Unaudited Financial Statements] ABC Company Hires Abe,an Accountant,to Create Financial