Moore, CPA, has been asked to issue a review report on the balance sheet of Dover Co., a nonpublic entity. Moore will not be reporting on Dover’s statements of income, retained earnings, and cash flows. Moore may issue the review report provided the
- Balance sheet is presented in a prescribed form of an industry trade association.
- Scope of the inquiry and analytical procedures has not been restricted.
- Balance sheet is not to be used to obtain credit or distributed to creditors.
- Specialized accounting principles and practices of Dover’s industry are disclosed.