Managements objectives

Managements responsibilities

Auditors Responsibilities

All of the answer choices are correct

Issue a disclaimer of opinion if he or she is unable to include a statement on each page of the financial statements

Perform a compilation engagement if he or she is unable to include a statement on each page of the financial statements

Both

Neither

limited assurance

minimal assurance

absolute assurance

sufficient assurance

An understanding of internal control

A letter of consent from the prior auditor

A client representation letter

Sufficient evidence supporting management's assertions

Express an opinion based on GAAP

Discuss auditing procedures

Discuss internal control findings

State that the Financial Statements are the responsibility of management

The CPA must be independent to issue the review report

It is not necessary for the CPA to obtain a management representation letter

The CPA is required to assess the risk of fraud

An opinion is expressed in the review report