Which of the Following Is a Correct Statement Regarding Review

question 59

Multiple Choice

Which of the following is a correct statement regarding review, compilation, and preparation services?

• A) A written engagement letter is not needed for a review, compilation or preparation service.
• B) The Statements on Standards for Accounting and Review Services (SSARS) clarity project used international standards as the base standard when revising the SSARS.
• C) CPAs must be independent of the client in a review service engagement and for an audit engagement.
• D) The amount of evidence accumulated in a review is minimal.

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Definitions:

Traditional OD

Refers to classical Organizational Development, a field focused on improving business performance and individuals’ work experience through planned change strategies.

Organization Development

A specialty area that concentrates on broadening the skills and understanding of individuals to drive more successful change and achieve greater effectiveness in organizational settings.

Preparation

The process of making ready or being made ready for use or consideration, often involving planning or research.

Employee Resistance

Opposition or pushback from employees against changes in the workplace, often due to concerns over the unknown or loss of status.