Question: Evaluate the following comments about compiled financial statements: When CPAs associate their name with compiled financial statements, their only responsibility is to the client and

Evaluate the following comments about compiled "When CPAs associate their name with compiled their only responsibility is to the client and that is limited to the proper summarization and presentation on the of information provided by the client. The opinion clearly states that the auditor has not conducted an audit and does not express an opinion on this fair presentation. If users rely on compiled they do so at their own risk and should never be able to hold the CPA responsible for inadequate performance. Users should interpret the as if they had been prepared by management."

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