A CPA's Report on Agreed-Upon Procedures Related to Management's Assertion

question 481

Multiple Choice

A CPA's report on agreed-upon procedures related to management's assertion about an entity's compliance with specified requirements should contain:

• A) A statement of limitations on the use of the report.
• B) An opinion about whether management's assertion is fairly stated.
• C) Negative assurance that control risk has not been assessed.
• D) An acknowledgment of responsibility for the sufficiency of the procedures.

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Definitions:

Cranial Nerve

One of the twelve nerves that originate in the brain and supply sensory, motor, or autonomic functions to the head, neck, and in some cases, viscera.

Auscultation

The act of listening to the internal sounds of the body, typically using a stethoscope, as part of a physical examination.

Auscultating

The act of listening to the sounds made by internal organs, especially the heart and lungs, typically using a stethoscope.

Palpating

The technique of examining parts of the body by touch, especially to diagnose illness or ascertain the size, shape, and firmness of organs.