Why Is It Important for the Review Engagement Report to State

question 12

Multiple Choice

Why is it important for the review engagement report to state that the review is not an audit?

• A)to make sure that the public accountant is not sued
• B)to clarify that only review engagement procedures were used during the engagement
• C)to make users aware that a review provides a lower level of assurance
• D)so that the user does not ask any unnecessary questions about the engagement

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Definitions:

Third-Country Nationals

Individuals who are working in a country that is neither their home country nor the country of the business for which they are working.

Home Country

The country in which a multinational company is headquartered or where an individual originates from.

Guest Workers

Foreign workers invited to perform needed labour.

Indirect Costs

Expenses not directly tied to the production of goods or services, such as overhead costs in administration, utilities, and marketing.