Which of the following services provides a moderate level of assurance about the client's financial statements?
A)forecasts and projections
B)compliance
C)review
D)audit

Question

Quizplus · Accepted Answer

A review provides a moderate level of assurance on whether the financial statements are free of material misstatement. This service involves analytical procedures and inquiries to management, but it does not involve the extensive procedures required in an audit. Forecasts and projections provide no assurance on actual financial statements, while compliance services focus on whether a company is in compliance with laws and regulations rather than its financial statements. An audit provides a high level of assurance on financial statements.

Which of the Following Services Provides a Moderate Level of Assurance