BM1909

MEMORY MATRIX
Fill in the matrix with information connected to the following concepts. (20 items x 2 points)

Nature of service Audit Review Agreed-upon Compilation

procedures
Objective To To enable the CPA to To carry out To assist the client in
express an opinion on report whether procedures agreed on the preparation of
the financial anything has come to with the client and financial statements
statements his attention that any appropriate third
would indicate that the parties in the report
financial statements
are not presented
fairly
Level of High, but not Moderate or Limited No assurance No assurance
assurance Absolute assurance or assurance
Reasonable assurance

Type of report Positive assurance Negative assurance Description Identification of

issued (opinion) of procedures financial information
performed and compiled
Factual findings

Procedures being 1. Risk Assessment 1. Inquiry 1. As agreed 1. Assemble financial

performed Procedures 2. Analytical procedures statements based on the
2. Tests of controls client’s data
3. Substantive tests

Independence Required Required Not required Not required

requirement
(Required or Not
Required?)

01 Activity 1 *Property of STI

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