[saif]

NINJA Question –

Which of the following is correct if an accountant is engaged to submit unaudited financial statements that are reasonably expected to be used by a third party?
A. compilation report must be issued.
B.The financial statements may not be prepared on a comprehensive basis of accounting other than generally accepted accounting principles.
C.The financial statements may not omit substantially all disclosures.
D.Each page of the financial statements should have a restriction such as “Restricted for Management’s Use Only.”
actually i don’t know what’s this question mean?
on explain answer say “The only time a compilation report is not required is when the financial statements are not expected to be used by a third party.”

i think compilation report must issue in any case