GWilson Is on the Board of Directors of a Small

Essay

G.Wilson is on the board of directors of a small manufacturing company,Smith Plastics,Inc.Wilson holds a CPA certificate and is a member of the AICPA.The president of the company,J.Smith,has asked Wilson to prepare financial statements for the company to be submitted to Sixth First Bank as part of a loan request.Smith tells Wilson that the bank would like a review or an audit but would settle for a compilation from a CPA and would like Wilson to do the compilation.
Required:
Discuss under what conditions,if any,Wilson would be allowed to prepare a compilation of the financial statements of Smith Plastics,Inc.