Multiple Choice
An accountant has compiled the financial statements of a nonissuer but declines to issue a compilation report. This is an example of:
A) An inappropriate reporting decision, because SSARS require that a report be issued whenever an accountant is associated with financial statements.
B) An inappropriate reporting decision, if the accountant is not independent with respect to the nonpublic entity.
C) An appropriate reporting decision, if the compiled financial statements are not expected to be used by a third party.
D) An appropriate reporting decision, as long as the financial statements are prepared in conformity with GAAP.
Correct Answer:
Verified
Correct Answer:
Verified
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