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USCPA每日一练之AUD【2015-11-17】

高顿网校2015-11-17 17:23Lynn.yu
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　　If an accountant submits compiled financial statements to a client that are reasonably expected to be used by a third party, which of the following is correct?

　　A. No compilation report is required, but an engagement letter must indicate that the financial statements are to be used by a third party.

　　B. Compilations are not allowable under such a circumstance.

　　C. A compilation report is required.

　　D. Notes describing the compilation must be included with the financial statements.

　　Answer:C

　　C is corrent because when third party reliance on the compiled financial statements is expected, a compilation report must be included.

　　A is incorrect because a compilation report is required, and an engagement letter, while desirable is not required.

　　B is incorrect because compilations are allowable.

　　D is incorrect because no such notes describing a compilation are ever included in the financial statements. Also, notes may be relating to the financial statements may be omitted if their omission is so indicated in the compilation report.

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上一篇：USCPA每日一练之FAR【2015-11-16】
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