TB MA Qu. 19-68 Items a through j present various phrases or Items a through j present various phrases or characteristics that may apply to audits, reviews, and compilations. Place an X in the cell if the phrase or characteristic applies to the listed service: (For each phrase or charachteristic you may have more than one X. If none apply leave them blank.) Part Phrase or characteristic Audit Review Compilation a. Independence is required. b. Report provides reasonable assurance. C. Report provides negative assurance. d. Consists primarily of inquiries and analytical procedures. X X e. Only performed on financial statements of nonpublic companies. f. Report states that the financial statements are the responsibility (or representation) of the company's management. g. Report provides no explicit assurance. h. Requires performance of analytical procedures. i. Report states that financial statements were prepared on a basis consistent with the preceding year. j. Requires a report modification for substantial doubt about going concern status. X