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Unformatted text preview: 16-38A) A review or compilation report should be issued. The report should be on the financial statements. A disclaimer should be issued stating that no audit has been performed prior to the preparing of the financial statements. B) A review should be issued to give a limited assurance that there are no material misstatements. A disclaimer should be made if the CPA has been denied information that may prove the financial statements to be inappropriate, such as clerical errors or misuse of GAAP.C) No report should be issued. D) An audit report should be issued. The report should be on the financial statements, internal controls and the conformity with GAAP. E) An audit report should be issued. The report should include the internal controls observed, conformity to GAAP, and the tests performed on transactions and balances. A disclaimer should be made for the unaudited statements for the three months ending in March 31, 2011. It should state that although his name is attached to these statements, they have not been audited and there...
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This note was uploaded on 08/22/2011 for the course AUDITING AC410 taught by Professor Prof during the Spring '11 term at Kaplan University.
- Spring '11