When performing a review of the financial statements the auditor must confirm cash balances and physically observe assets.

Name: When performing a review of the financial statements the auditor must confirm cash balances and physically observe assets.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Auditors are not required to confirm cash balances or physically observe assets during a review of financial statements, as reviews are less extensive than audits and primarily involve analytical procedures and inquiries.

When Performing a Review of the Financial Statements the Auditor