Which of the following statements is false regarding responsibilities associated with agreed-upon procedures engagements?
a. The responsibility of the practitioner is to conduct the procedures and report the findings in accordance with applicable professional standards.
b. The practitioner must have adequate knowledge of the subject matter.
c. The practitioner is required to determine if there exists a difference between the agreed-upon procedures requested by the specified parties and the procedures that the practitioner would have decided to conduct if the practitioner would have been engaged to perform another form of engagement.
d. The practitioner should not agree to perform agreed-upon procedures that are overly subjective.
c
You might also like to view...
The accountant for the Issenock Company did not record a purchase of merchandise on credit for the current year, but the merchandise was correctly included in the ending inventory. Assuming a periodic inventory system, how would assets, liabilities, and retained earnings be affected on the year-end balance sheet? Set Assets Liabilities Retained Earnings I. No effect Understated Understated II
Understated Understated No effect III. No effect No effect Overstated IV. No effect Understated Overstated ? A) Set I B) Set II C) Set III D) Set IV
In _____, the old system is used along with the new system for a predetermined period of time.
A. phased conversion B. cut-over conversion C. parallel conversion D. flash cut conversion
Which of the following would NOT be appropriate topics for a problem-solution organizational pattern?
a. Income equality in the U.S. and a law aimed at changing it b. How to limit carjacking in mall parking lots c. The reasons for chemical dependency d. The health concerns that can be improved by running
Financial statements can be prepared directly from the information in the adjusted trial balance.
Answer the following statement true (T) or false (F)