Da Xing Fan, CPA, is engaged by the management of Ky-lin, a non-public company, to review the
Question:
Da Xing Fan, CPA, is engaged by the management of Ky-lin, a non-public company, to review the company’s financial statements for the year ended February 28, 20XX.
Required:
A. Discuss the content of the report on a review of financial statements.
B. Summarise Fan’s responsibilities if she finds the financial statements contain a material departure from IFRS.
Financial StatementsFinancial 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...
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Step by Step Answer:
A The student should discuss the parts of the report on a review of financial statements The report ...View the full answer
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Related Book For 
Principles of Auditing An Introduction to International Standards on Auditing
ISBN: 978-0273768173
3rd edition
Authors: Rick Hayes, Philip Wallage, Hans Gortemaker
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