USCPA每日一练之AUD【2015-11-23】

高顿网校2015-11-23 17:02Lynn.yu
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　　Which of the following is correct relating to compiled financial statements when third-party reliance upon those statements is anticipated?

　　A. Each page of the financial statements should have a restriction such as "Restricted for Management’s Use Only".

　　B. Omission of note disclosures is unacceptable.

　　C. An opinion on fairness of financial statement presentations is required.

　　D. A compilation report must be issued.

　　Answer:D

　　D is corrent because when third-party reliance is anticipated, an accountant must issue a compilation report.

　　A is incorrect because the financial statements are not restricted for management’s use when third-party reliance is anticipated.

　　B is incorrect because omission of note disclosures is acceptable if the omission is indicated in the compilation report.

　　C is incorrect because no opinion is provided in a compilation report.

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