Question

An accountant agreed to perform a compilation of a company's financial statements under Statements of Standards for Accounting and Review Services (SSARS). During fieldwork, the accountant decided to perform some analytical procedures. Which of the following would the accountant do related to the compilation engagement? A. Issue a review report because review procedures were performed.B. Issue an audit report because audit procedures were performed.C. Withdraw from the engagement because review procedures were performed on a compilation engagement.D. Issue a compilation report even though review procedures were performed on the engagement.

Answer 1

Answer: The following would the accountant do related to the compilation engagement: Issue a compilation report even though review procedures were performed on the engagement.

Under Statements of Standards for Accounting and Review Services (SSARS), the accountant decided to perform some analytical procedures.

Therefore, the correct option is (d)