Reference no: EM132669837

Problem 1: A review of unaudited financial statements consists of:

Multiple Choice

Option 1: Conducting inquiry of management and documenting internal controls.

Option 2: Performing analytical procedures and determining compliance with laws and regulations.

Option 3: Conducting internal control evaluation and obtaining written representations.

Option 4: Conducting inquiry of management, performing analytical procedures, and obtaining written representations.

Problem 2: Which of the following would not be included in a report to apply agreed-upon procedures to historical financial statements?

Multiple Choice

Option 1: Identification of the specific procedures performed by the accountants.

Option 2: Identification of the specified parties who participated in establishing the scope of the engagement.

Option 3: A statement that disclaims an opinion on the financial statements.

Option 4: The accountants' opinion as to the sufficiency of the procedures performed in the engagement.