[CirocOnTheRock]

Do all the compilations need to be disclaimed? I got this question wrong and i was suprised

https://ibb.co/YfYf5Bd

BEC

REG

AUD

[fsugirl2005]

Disclaimer is a term used with audits normally or some other attestation engagements. You would just say the compilation report needs to address that there is no assurance given or that there has been no audit performed.

You can go back and read what a compilation entails and review a sample compilation report. That would tell you all you need to know.

AUD - 10/21/16 (75----07/2010 expired)
FAR - 10/28/16
BEC - 11/2016
REG - 01/2017

Using Gleim CPA Review, Ninja Audio, Ninja Book

[CirocOnTheRock]

Can you tell me why I got the question wrong?

BEC

REG

AUD

[fsugirl2005]

D – In a compilation, no assurance is given. That means no positive or negative assurance.

C – You don't have to know what's going on within a company in order to read or understand their statements. You just need to have an understanding of financial matters in general.

A – Involves subsequent events which only come into play with an audit or review, not a compilation.

AUD - 10/21/16 (75----07/2010 expired)
FAR - 10/28/16
BEC - 11/2016
REG - 01/2017

Using Gleim CPA Review, Ninja Audio, Ninja Book

[Author]

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