Question

An attestation engagement is a professional service in which a CPA A. Reports on financial statements...

An attestation engagement is a professional service in which a CPA

A. Reports on financial statements prepared on an other comprehensive basis of accounting.

B. Assess control risk at a low level.

C. Expresses a written conclusion about an assertion or subject matter that is responsibility of another party.

D. Provides extensive management consulting advice.

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Solution:

An attestation engagement is a professional service in which a CPA, "Expresses a written conclusion about an assertion or subject matter that is responsibility of another party."

Hence option c is correct.

Add a comment
Know the answer?
Add Answer to:
An attestation engagement is a professional service in which a CPA A. Reports on financial statements...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • In performing an attest engagement, a CPA typically o Assesses the risks of material misstatement of...

    In performing an attest engagement, a CPA typically o Assesses the risks of material misstatement of financial information. O Provides management consulting advice. O Supplies litigation support services. O Reports on subject matter other than traditional financial statements.

  • The list of answers are: Adverse Agreed- Upon Procedures Assertions Attestation Risk Consistent Measurements Control Criteria...

    The list of answers are: Adverse Agreed- Upon Procedures Assertions Attestation Risk Consistent Measurements Control Criteria Financial Forecast Quantitative or Qualitative (nonquantitative) Responsible Party SOC 3 Trust Services Select the necessary words from the list of possibilities to complete the following statements. Statements Answer To present a report that includes an assertion about internal control over compliance, management should evaluate the company's internal control using some appropriate User and preparer needs regarding issues of security, availability, processing integrity, online privacy,...

  • A non-public company, has asked your CPA firm to audit the complete financial statements for Year...

    A non-public company, has asked your CPA firm to audit the complete financial statements for Year 2. Your partner has recently asked you to draft an engagement letter for this engagement. This is your first engagement letter and you have referenced other engagement letters as a starting point for drafting the engagement letter. From the list of statements below, click in the associated cell and select the statement that most likely would be included in the engagement letter. You may...

  • rious 1-35. Match the following definitions (or partial definitions) of the various types of services to...

    rious 1-35. Match the following definitions (or partial definitions) of the various types of services to the appropriate term. Each term may be used once or not at all. Definition (or Partial Definition) Service A government agency authorized to regulate companies seeking approval to issue securities for sale to the public. a. American Institute of Certified Public Accountants 1. b. A representation or declaration made by the responsible party typically management of the entity 2. Assertion 3. Financial Accounting 4....

  • Casa Royale, Inc., a public company, retains Ying and Company CPA to audit its financial statements...

    Casa Royale, Inc., a public company, retains Ying and Company CPA to audit its financial statements and internal control. Howard Smythe, the partner in charge of the audit, drafted the following unqualified report: Report of Independent Registered Public Accounting Firm (Comment a) To the shareholders and the board of directors (Comment b) of Casa Royale, Inc. Opinion on the Financial Statements We have audited the accompanying balance sheets of Casa Royale, Inc. (the "Company") as of December 31, 20X7 and...

  • The question reads: The Engagement Letter for Oceanview Marine Company is missing 2 pieces. Make the...

    The question reads: The Engagement Letter for Oceanview Marine Company is missing 2 pieces. Make the needed changes/additions directly on the Engagement Letter. LILTS BERGER & ASSOCIATES 4-1 Certified Public Accountants CW 11/23/2018 Ocean City, Florida 33140 October 30, 2018 Mr. Donald Phillips, President 36 Clearwater Lake Road Ocean City, Florida 33140 Dear Mr. Phillips: You have requested that we audit the financial statements of Oceanview Marine Company, which comprise the balance sheet for December 31, 2018, and the related...

  • Casa Royale, Inc., a public company, retains Ying and Company CPA to audit its financial statements...

    Casa Royale, Inc., a public company, retains Ying and Company CPA to audit its financial statements and internal control. Howard Smythe, the partner in charge of the audit, drafted the following unqualified report: Report of Independent Registered Public Accounting Firm (Comment a) To the shareholders and the board of directors (Comment b) of Casa Royale, Inc. Opinion on the Financial Statements We have audited the accompanying balance sheets of Casa Royale, Inc. (the "Company") as of December 31, 20X7 and...

  • 1. You have performed a review engagement for XYZ Limited. The level of assurance to be...

    1. You have performed a review engagement for XYZ Limited. The level of assurance to be expressed in your report is: a) Reasonable b) Low c) Limited d) None 2. Consider the following characteristics of business: i. Inadequate segregation of duties ii. General lack of mitigating (compensating) controls iii. More reliance on test of controls iv. More reliance on substantive procedures From an audit perspective, a small business would generally exhibit: a) I and iv only b) i and ii...

  • 1.Which of the following statements is TRUE: i) Internal audit’s role is to assess if financial...

    1.Which of the following statements is TRUE: i) Internal audit’s role is to assess if financial statements are true and fair ii)External auditors are responsible for the identification of all fraud iii)Internal auditors report their audit opinions to shareholders a)i and ii only b)i and iii only c)ii and iii d)None of the above 2.Ruby, an external auditor, has been asked by the Finance Director of Aberdeen Ltd. if she will be the company’s external auditor. Before agreeing to the...

  • 1. Consider the following statements:        I. Per COSO, Control Activities are the policies and procedures...

    1. Consider the following statements:        I. Per COSO, Control Activities are the policies and procedures that help insure that management’s          directives are carried out.       II. A Reliance Strategy is used when control risk is considered High.       a. I is true; II is true       b. I is true;   II is false       c. I is false; II is true       d. I is false; II is false 2. Management's attitude toward aggressive financial reporting and its...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT