which of the following statements is correct regarding a review engagement of a nonp 634183
Which of the following statements is correct regarding a review engagement of a nonpublic company’s financial statements performed in accordance with the Statements on Standards for Accounting and Review Services (SSARS)?
- An accountant must establish an understanding with the client in an engagement letter.
- An accountant must obtain an understanding of the client’s internal control when performing a review.
- A review provides an accountant with a basis for expressing limited assurance on the financial statements.
- A review report contains an accountant’s opinion of the financial statements taken as a whole.