A Financial Statement Review Conducted in Compliance with Statements on Standards

question 38

Essay

A financial statement review conducted in compliance with Statements on Standards for Accounting and Review Services (SSARS) requires the accountant to obtain evidence to express negative assurance. One of these procedures is to "perform analytical procedures." List three other procedures the accountant must perform.

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Definitions:

Pulmonary Artery

The artery carrying blood from the right ventricle of the heart to the lungs for oxygenation.

Oxygenated Blood

Blood that is rich in oxygen and is carried from the lungs to the heart and then distributed to the rest of the body.

Hepatic Portal Veins

A vein that carries blood from the gastrointestinal tract and spleen to the liver, transporting nutrients and toxins to the liver for processing.

Superior Mesenteric Vein

A large vein that drains blood from the small intestine, ascending colon, and part of the transverse colon into the portal vein.