Hugo Crossman, CPA, issued a review statement for the CUNY
Question # 00034098
Posted By:
Updated on: 11/30/2014 05:20 PM Due on: 12/29/2014
CASE #19
Hugo Crossman, CPA, issued a review statement for the CUNY Company for last year and a compiled
statement in the current year. During the current year, Hugo purchased some CUNY securities, which
made him lose his independence—a fact noted in his CPA compilation report. Now, the CUNY
Company management wants Hugo to issue comparative two year financial statements (last year and
this year).
Can Hugo re-issue his review report now that he is no longer independent of the CUNY Company?
Hugo Crossman, CPA, issued a review statement for the CUNY Company for last year and a compiled
statement in the current year. During the current year, Hugo purchased some CUNY securities, which
made him lose his independence—a fact noted in his CPA compilation report. Now, the CUNY
Company management wants Hugo to issue comparative two year financial statements (last year and
this year).
Can Hugo re-issue his review report now that he is no longer independent of the CUNY Company?
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Rating:
/5
Solution: Hugo Crossman, CPA