Exam 25: Other Assurance Services

What type of SOC report is intended to meet the needs of entities that use service organizations and their auditors,who are responsible for understanding internal controls over financial reporting at service organizations?

A CPA firm can issue a compilation report

Two of the types of services provided in connection with the Statements on Standards for Accounting and Review Services are

What is the best reason that standards prohibit accepting an engagement on a projection for general use?

Compilation reports may be of all except which of the following types?

Auditors of the financial statements of public companies must follow the guidelines in the SSAEs.

Your accounting firm has accepted a compilation engagement from a client in which your firm is not independent.In that case you

Considerable guidance is provided by the AICPA Guide for Prospective Financial Statements which includes criteria against which an attestation engagement can be compared.

The distribution of which of the following types of reports is unrestricted?

Which are prospective financial statements that present an entity's financial position,results of operations,and cash flows,to the best of the responsible party's knowledge and belief,given one or more hypothetical assumptions?

The quarterly reports submitted to the SEC by the client

Discuss each of the three types of compilation reports and the circumstances in which each should be used.

All of the following are steps that should be performed in a review engagement except for

Which of the following statements is not correct?

Who developed the WebTrust service? Briefly explain this service.

Discuss the six Statements on Standards for Accounting and Review Services (SSARS)requirements that must be met when an accountant is performing a compilation of financial statements.

The highest level of assurance is provided for in which one of the following engagements?

The engagement and report on debt compliance letters should be limited to compliance matters that the auditor is qualified to evaluate.Which of the following engagements would be inappropriate for the CPA to attempt to evaluate?

Of the three types of attestation engagements,examination engagements provide a higher level of assurance than agreed-upon procedures engagements but less than review engagements.

For a preparation service,each page of the financial statements,should indicate,at a minimum,that "no assurance is provided" on the financial statements.