Loman, CPA, who has audited the financial statements of the Broadwall Corporation, a publicly held company, for

Question:

Loman, CPA, who has audited the of the Broadwall a publicly held company, for the year ended December 31, 20X6, was asked to perform a review of the of Broadwall for the period ending March 31, 20X7. The engagement letter stated that a review does not provide a basis for the expression of an opinion.
a. Explain why Loman€™s review will not provide a basis for the expression of an opinion.
b. What are the review procedures Loman should perform, and what is the purpose of each procedure? Structure your response asfollows:

Loman, CPA, who has audited the financial statements of the

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...