Which of the Following Statements Is False Regarding Compilation Procedures

question 36

Multiple Choice

Which of the following statements is false regarding compilation procedures?

• A) The practitioner should have a general knowledge of the organization's industry, the nature of its accounting records, the accounting basis to be used (GAAP or a special purpose framework other than GAAP), and the form and content of the financial statements.
• B) The practitioner is required to make inquiries or perform procedures to verify, corroborate, or review information provided by the client.
• C) The practitioner is not required to obtain an understanding of internal control over financial reporting.
• D) The practitioner should read the financial statements, including footnotes, to make sure that they are appropriate in form and free from obvious material misstatement.