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 235 discussion

Actual exam question from AICPA's AUD
Question #: 235
Topic #: 1
[All AUD Questions]

When compiling a nonissuer's financial statements, an accountant would be least likely to:

  • A. Perform analytical procedures designed to identify relationships that appear to be unusual.
  • B. Read the compiled financial statements and consider whether they appear to include adequate disclosure.
  • C. Omit substantially all of the disclosures required by generally accepted accounting principles.
  • D. Issue a compilation report on one or more, but not all, of the basic financial statements.
Show Suggested Answer Hide Answer
Suggested Answer: A 🗳️
Choice "A" is correct. During a compilation of a nonissuer's financial statements, an accountant generally would not perform analytical procedures (Analytical procedures are required in a review.).
Choice "B" is incorrect. The accountant compiling financial statements generally would read those statements to consider whether they appear to include adequate disclosure.
Choice "C" is incorrect. The accountant compiling financial statements might omit substantially all of the disclosures required by GAAP.
Choice "D" is incorrect. The accountant compiling financial statements might issue a compilation report on one or more, but not all, of the basic financial statements.
by gemazyni at April 5, 2025, 4:21 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