What is required of an accountant to perform a compilation? Do any procedures have to be conducted to verify the accuracy or integrity of information received from the entity and used as the basis for the financial statements?
Answer to relevant QuestionsWhat are the characteristics of suitable criteria? Why are they needed for an attest engagement to be possible? What are the objective criteria for financial statements?What is the purpose of an audit?What entity issues the standards governing the integrated audit of a public company?What entity sets standards for audits of U.S. public companies? Nonpublic companies?Do auditors need to find immaterial financial statement misstatements?
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