Which of the Following Would Not Be Included in a CPA's

question 34

Multiple Choice

Which of the following would not be included in a CPA's report based upon a review of the financial statements of a nonpublic entity?

• A)A statement that the review was in accordance with generally accepted auditing standards
• B)A statement that all information included in the financial statements is the representation of management
• C)A statement describing the principal procedures performed
• D)A statement describing the auditor's conclusions based upon the results of the review

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Definitions:

Negligent Misconduct

Actions or failure to act that demonstrates a careless disregard for the safety or welfare of others, falling below a standard of care.

Willful Misconduct

Intentional wrongdoing or a reckless disregard for the safety and rights of others.

Internal Revenue Code

The comprehensive set of tax laws in the United States that govern federal tax obligations.

Securities Act of 1933

A U.S. federal law enacted to ensure more transparency in financial statements and to prevent fraud in the sale of securities, requiring that investors receive significant information about securities being offered for public sale.