when providing limited assurance that the financial statements of a nonissuer nonpub 621687

When providing limited assurance that the financial statements of a nonissuer (nonpublic) entity requirenomaterial modifications to be in accordance with generally accepted accounting principles, the accountant should

a. Understand internal control.

b. Test the accounting records that identify inconsistencies with the prior year’s financial statements.

c. Understand the accounting principles of the industry in which the entity operates.

d. Develop audit programs to determine whether the entity’s financial statements are fairly presented.