When an accountant is associated with a financial statement as part of a personal financial planning engagement,the accountant's report should include a statement that
A) We have not audited, reviewed, or compiled the statement.
B) These financial statements are not designed for those who are not informed about such differences.
C) We do not express an opinion or any other form of assurance on them.
D) We are not aware of any material modifications that should be made.

Question

Quizplus · Accepted Answer

C  The accountant's report should state that they have not audited, reviewed, or compiled the statement (A) and that they do not express an opinion or any other form of assurance on them (C). These statements clarify the level of responsibility and assurance the accountant is providing.

When an Accountant Is Associated with a Financial Statement as Part