ExamTopics Logo
Mail Us[email protected]
Menu
Aicpa Discussions
exam questions

Exam AUD All Questions

View all questions & answers for the AUD exam
Go to Exam

Exam AUD topic 1 question 222 discussion

Actual exam question from AICPA's AUD
Question #: 222
Topic #: 1
[All AUD Questions]

An accountant may compile a nonissuer's financial statements that omit all of the disclosures required by GAAP only if the omission is:
I. Clearly indicated in the accountant's report.
II. Not undertaken with the intention of misleading the financial statement users.

  • A. I only.
  • B. II only.
  • C. Both I and II.
  • D. Either I or II.
Show Suggested Answer Hide Answer
Suggested Answer: C 🗳️
Choice "C" is correct. An accountant may issue a compilation report for a client's financial statements that omit all required GAAP disclosures, provided the omission is not intended to mislead financial statement users and the omission is clearly indicated in the accountant's report.
Choices "A", "B", and "D" are incorrect, per above Explanation.
by gemazyni at April 5, 2025, 4:20 p.m.

Comments

Chosen Answer:
This is a voting comment (?). It is better to Upvote an existing comment if you don't have anything to add.
Switch to a voting comment New
Submit Cancel
Currently there are no comments in this discussion, be the first to comment!
Community vote distribution
A (35%)
C (25%)
B (20%)
Other
Most Voted
A voting comment increases the vote count for the chosen answer by one.

Upvoting a comment with a selected answer will also increase the vote count towards that answer by one. So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.

SaveCancel