$25-23($Objective $25-1)$ SSARS contain several procedures that are required when engaged to perform a compilation or review engagement. Following are $10$ statements that may or may not be relevant to a compilation or review engagement. For each of the $10$ statements, indicate whether the procedure is to be performed in a compilation or review engagement.

Description of Procedure Required for a

Compilation Engagement? Review Engagement?

Obtain a written engagement letter.

Understand the client$$s industry and the nature of the client$$s business.

Read the financial statements.

Design and perform analytical procedures.

Make inquiries of client management.

Perform tests of controls.

Assess fraud risk.

Obtain a letter of representation from management.

Prepare documentation in sufficient detail to provide a clear understanding of the work performed.

Issue a report that contains limited assurance about whether the accountant is aware of the need for material modification to the financial statements.