A Financial Statement Review Conducted in Compliance with Statements on Standards

question 12

True/False

A financial statement review conducted in compliance with Statements on Standards for Accounting and Review Services (SSARS) includes obtaining an understanding of internal control.

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Definitions:

Organizational Structure

The arrangement of duties, processes, reporting hierarchies, and communication pathways that connect different sections of an organization.

Unethical Behavior

Actions that are dishonest, immoral, or does not adhere to accepted social and professional standards.

Organizational Structure

The system that outlines how certain activities are directed in order to achieve the goals of an organization, including rules, roles, and responsibilities.

Top Management

The highest level of administration and decision-making authority in an organization.