SU 19

Question 1

Contains one or more hypothetical assumptions

Answer 1

Financial projection

Question 2

difference between review in SSAR vs SSAE

Answer 2

SSAR: limited assurance about whether material modifications need to be made to FS to be in accordance with the framework

SSAE: limited assurance about whether material
Modifications should be made to subject matter to conform to specific criteria

Question 3

In attestation review engagement vs SSARs

Answer 3

1. The engaging party may not be the responsible party.
2. Analytic procedures are less likely if subject matter is qualitative vs quantitative
3. Report may be restricted

Question 4

Prospective FS and compliance attestation this is not permitted…

Answer 4

Review is not permitted, only an examination or AUP.

Question 5

Pro Forma Financial information

Answer 5

A review or examination applies

Question 6

Compliance opinion

Answer 6

In compliance an opinion is formed by the CPA evaluating 1. The nature and frequency of noncompliance 2. It materiality to the specified requirements.

Question 7

T or F. The auditors examination provides a legal determination of compliance

Answer 7

False