[barelystayingsane]

Why are not both a. and c. correct? Both of them are included in Becker’s AM I SAD MR FIRSALA mnemonic (the S of SAD and the LA of FIRSALA)….

Financial statements of a nonissuer that have been reviewed by an accountant should be accompanied by a report stating that a review:

a. Provides only limited assurance that the financial statements are fairly presented.

b. Includes examining, on a test basis, information that is the representation of management.

c. Is substantially less in scope than an audit.

d. Does not contemplate obtaining corroborating evidential matter or applying certain other procedures ordinarily performed during an audit.

[barelystayingsane]

Never mind…I'm guessing a. is incorrect, because it provides limited assurance that there are no material modifications, not limited assurance that the financial statements are fairly presented.

Damn these nitpicky questions on exact wording. So stupid.

[Author]

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