Question

For each of the situations described below, state whether the PA is or is not associated with the financial statements. What is the consequence of being associated with financial statements?

Required:
a. PA audits financial statements and his or her name is in the corporate annual report containing them.
b. PA prepares the financial statements in the partnership tax return.
c. PA uses the computer to process client-submitted data and delivers financial statement output.
d. PA uses the computer to process client-submitted data and delivers a general ledger printout.
e. PA lets client copy client-prepared financial statements on the PA’s letterhead.
f. Client issues quarterly financial statements and mentions PA’s review procedures but does not list PA’s name in the document.
g. PA renders consulting advice about the system to prepare interim financial statements but does not review the statements prior to their release.



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  • CreatedJanuary 09, 2015
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