QUESTION 6 In which of the following client scenarios would

QUESTION 6 In which of the following client scenarios would it be appropriate under accounting standards to provide a compilation? O Your client\'s business is growing and needs to seek more complex financing Your client\'s lender has requested financial statements prepared by an CPA, in which Your client\'s business is seeking external funding and investors, but the lenders are requesting a C As report that prodes the highest level assurance concerning O Your client\'s business needs to obtain a low amount of credit. The creditor has requested that the client provide financial statements prepared with the assistance o Your client needs assistance prepanng its corporate tax return. the CPA provides some minimum level of assurance regarding the accuracy of the financials the fairness of the financial statements of a CPA, but the creditor is not requiring that the CPA proide any assurances regarding the fairness of lack of mistatements QUESTION 7 For which of the following is the CPA required to understand the client\'s internal controls and assess fraud risk? O Compilation O Review O Audit All of the above QUE STION 8 In a compilation, the CPA must prepare a compilation repot The compilation report is prepared in which format? O In an emal O On an IRS-provided form O On the CPA fim\'s letterhead OOn any blank scrap paper accessible to the CPA

Solution

6) option C is correct ...

7) Review

8) on an IRS provided form. ..... . ... ... . ... . ... .. ... .