According to the AICPA, the purpose of an audit of...

Auditing Practice Questions Test 1 (Chapters 1-4) Test

Question Number 14

According to the AICPA, the purpose of an audit of financial statements is to

A) Express an opinion on the fairness with which they present financial position, results of operations, and cash flows in conformity with accounting standards promulgated by the FASB

B) Enhance the degree of confidence that intended users can place in the financial statements

C) Express an opinion on the fairness with which they present financial position, results of operations, and cash flows in conformity with accounting standards promulgated by the US SEC

D) Obtain systematic and objective evidence about financial assertions and report the results to interested users

✔ Correct Answer:

A) Express an opinion on the fairness with which they present financial position, results of operations, and cash flows in conformity with accounting standards promulgated by the FASB

Auditing Practice Questions Test 1 (Chapters 1-4) Test

Question Number 14

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