33. A CPA has been engaged to perform a review of financial statements service f

Question

33. A CPA has been engaged to perform a review of financial statements service for a client. enenti: hk of the nature of a review service). a. The CPA must perform the basic TOC and TOB procedures necessary to determine that the statements are in conformity with GAAP. b. The CPA may issue a positive opinion for this type of service. c. The CPA must review the effectiveness of a client's internal control for this type of service. The CPA is not performing this type of service according to the Statements on Auditing Standards (SASs). d.

Explanation / Answer

The answer is option (a) The CPA must perform the basic TOC and TOB procedures necessary to determine that the staements are in confirmity with GAAP.

This is the basic objective and nature of a review service.

Thank you

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