Required information Auditor Services for Financial Statements Read the overview

Question

Required information Auditor Services for Financial Statements Read the overview below and complete the activities that follow. Companies can retain public accountants to perform three types of attest services related to their financial statements. These three are audits, reviews, and agreed-upon procedures CONCEPT REVIEW: Accountants can provide different levels of assurance on financial statements. The levels vary with the amount of evidence or procedures needed and the amount of assurance provided. The most frequent types are audits, reviews, and agreed upon procedures. The suitable criteria in a financial statement audit are set forth in the financial reporting framework selected by management,often 2. A(n)provides the highest form of assurance CPAs can offer. 3.A(n)is generally limited to inquiry and analytical procedures. 4. In a(n)the risk of material misstatement is low. 5.An) r report includes the wording that we are not aware of any material modifications..."

Explanation / Answer

1.The suitable criteria in a financial statement audit are set forth in the financial reporting framework selected by management, often GAAP

2. An Audit provides the highest form of assurance CPAs can offer.

3.A Review is generally limited to inquiry and analytical procedures.

4. In an Audit , the risk of material misstatement is low.

5.A review report includes the wording that "we are not aware of any material modifications...".

For the second part only out of following is written but no options are being provided. I can give the answer if the options are available out of which solution is to be selected.

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