An accountant's communication on the financial statements in a compilation engagement would NOT include a statement that ________.
A)the statements may not be appropriate for the purposes of users
B)the financial statement information has been compiled
C)a compilation engagement consists primarily of inquiries of company personnel and analytical procedures applied to financial data
D)Financial statements have not been audited or reviewed and the accountant did not attempt to verify accuracy or completeness.

Question

Quizplus · Accepted Answer

A compilation engagement primarily involves assembling financial data from the company's management into financial statements without performing any procedures to verify the accuracy or completeness of the information. It does not typically involve inquiries of company personnel or the application of analytical procedures, which are more characteristic of a review engagement.

An Accountant's Communication on the Financial Statements in a Compilation