HW Ch 24, 25 - b) Deficiencies in the approach: There is a...

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Rosmic Calvo Acct 275 24-22 a) 2 b) 3 c) 1 24-23 a) 4 b) 2 c) 4 24-24 a) 3 b) 4 c) 1 24-25 a) 4 b) 3 c) 2 25-18 a) 4 b) 2 c) 2 d) 4 25-19 a) 3 b) 2 25-20 a) 1 b) 2 c) 1 24-28 a) 3 b) 4 c) 1 d) 2 e) 2 f) 1 g) 4 h) 2 i) 2 25-25 a) No, it is not appropriate to do a SSARS review service for a publicly held company; because it is restricted to nonpublic companies. The annual
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statements of publicly held companies must be audited or unaudited in accordance with GAAS and the requirements of the SEC, which defines the level of assurance for the financial statements of public companies more clearly.
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Unformatted text preview: b) Deficiencies in the approach: There is a high likelihood of misstatement since Tidwell is a high-risk client. The required review procedures include inquiries and analytical procedures, so the review should be done by a more experienced member of the engagement team. c) Problems with the report: 1. Report should be addressed to client, not SEC 2. Pages should be marked unaudited not reviewed 3. Report should be worked for public companies and include a reference to PCAOB standards....
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This note was uploaded on 01/20/2010 for the course ACCT 275 taught by Professor Foe during the Fall '10 term at Nashville State Community College.

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HW Ch 24, 25 - b) Deficiencies in the approach: There is a...

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