A review service includes:
A) tests of controls or transactions.
B) obtaining an understanding of the client's internal control.
C) inquiry and analytical procedures.
D) independent confirmation or physical examination.

Question

Quizplus · Accepted Answer

A review service typically involves inquiry and analytical procedures to assess the plausibility and consistency of financial information, but not tests of controls or transactions. It may also involve independent confirmation or physical examination in limited circumstances, but this is not necessarily a core part of the service. While understanding the client's internal control can be helpful in planning the review and identifying areas of risk, it is not a necessary step in performing the review itself.

A Review Service Includes