alleryStart learning →A compilation engagement is not strictly assurance because it has what feature?
ANo accountant used
BNo client involved
CNo conclusion given
DNo fee charged
Answer & Solution
Correct answer: C. No conclusion given
Compilation engagements give no conclusion, so they lack a defining assurance component even if loosely called assurance.
Keep practising Financial Audit
Browse all Financial Audit questions for CA Final, or explore more Auditing topics.
Related questions
Which 2002 law led to the creation of the PCAOB?Which firm hid off-book liabilities from banks and shareholders before collapsing?Which office now audits UK government expenditure?Gladstone's 1866 Act made departments produce which annual accounts?Which body did the Securities Exchange Act of 1934 create?Which of these is a method of gathering audit evidence?Why can an audit not give absolute assurance?Financial statements aim to give information useful to whom?