Exam 13: Other Public Accounting Services

This question is related to other public accounting services and reports.For each statement,description,or phrase (1-5),indicate the related type of engagement or report (A-F). A.Reports on elements,accounts,or items of a financial statement B.Reports on compliance with contractual agreements or regulatory requirements C.Reports on the agreed-upon procedures D.Reports on internal control E.Reviews of unaudited financial statements of a nonissuer F.Compilations of financial statements ____ 1.Management issues a separate report containing assertions. ____ 2."In our opinion,the schedule of inventory referred to above presents fairly,in all material respects ____ 3.They are substantially less in scope than an audit in accordance with generally accepted auditing standards. ____ 4.They are examinations or agreed-upon procedures about conforming to the rules and regulations of a regulatory agency. ____ 5.The reports identify specific users and describe the procedures specified by the users in detail.

Which of the following is a general standard of generally accepted attestation standards but is not a fundamental auditing principle?

When providing limited assurance that the reviewed financial statements of a nonpublic entity require no material modifications to be in accordance with generally accepted accounting principles,the accountant should

ABC Company prepares financial statements showing the last two years,years X and Y (Year X is the year prior to year Y).The auditor performed an audit of year X and a review of year Y.The auditor may

Review work on unaudited financial statements consists primarily of conducting ____________________________,performing ____________________,and obtaining a management representation letter.

Each page of the financial statements of a review service should be marked " __________________________________."

When an accountant compiles prescribed forms,the compilation report always must call attention to GAAP departures and disclosure deficiencies.

An accountant associated with personal financial statements would need to give the standard compilation report disclaimer.

In an agreed-upon procedures engagement,an accountant

Auditors can gain sufficient understanding of the internal controls at a service organization by

An accountant's review of unaudited financial statements would not include

An accountant's report includes the phrase "We are not aware.…" This phrase indicates that

In a compilation engagement,the accountant

A compilation report cannot be issued by an accountant who is not independent.

In a review services engagement,an accountant performs some limited procedures to achieve a moderate level of assurance.

Which of the following procedures should an accountant perform during an engagement to review the financial statements of a nonpublic entity?

Which of the following conditions must be met before an accountant can conduct an examination of an entity's internal control?

A report on sustainability as defined by the AICPA might include all of the following except

During a review engagement,which of the following is not a required inquiry of management?

The AICPA Special Committee on Assurance Services identified five global "mega trends" that can affect a CPA's business.Which of the following is not one of these mega trends?