According to the Statements on Standards for Accounting and Review

question 24

Multiple Choice

According to the Statements on Standards for Accounting and Review Services, what response is appropriate when an accountant, who is not independent, performs a compilation of financial statements?

• A)The accountant should state in the report that he/she is not independent.
• B)The accountant should withdraw from the engagement.
• C)The accountant should express a disclaimer opinion on the compilation.
• D)The accountant should express an adverse opinion on the compilation.

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Definitions:

Social Engineering

Getting around security systems by tricking computer users inside a company into revealing sensitive information or gaining unauthorized access privileges.

Confidential

Information or material designated as private or secret, requiring careful handling and restricted access to protect privacy or integrity.

Credit Bureaus

Institutions that collect and compile individual credit histories, providing credit reports to lenders for decision-making purposes.

Appealing Fix

A solution or repair to a problem that is attractive or satisfying because it is effective, easy, or beneficial.