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| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
QUESTION: Gole, CPA, is engaged to review the 2008 financial statements of North Co., a nonpublic entity. Previously, Gole audited North's 2007 financial statements and expressed an unqualified opinion. Gole decides to include a separate paragraph in the 2008 review report because North plans to present comparative financial statements for 2008 and 2007. This separate paragraph should indicate that A. The 2008 review report is intended solely for the information of management and the board of directors. B. The 2007 auditor's report may no longer be relied on. C. No auditing procedures were performed after the date of the 2007 auditor's report. D. There are justifiable reasons for changing the level of service from an audit to a review.
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