What type of audit report do most companies receive from their auditors?
A)standard audit reports
B)no report unless the company has problems
C)a GAAP report
D)a comprehensive report

Question

Quizplus · Accepted Answer

Most companies receive standard audit reports which provide an opinion on the fairness of financial statements and whether they conform to generally accepted accounting principles (GAAP). This type of report is the most common and widely used in auditing. Option B is incorrect as auditors are required to provide a report regardless of whether there are problems or not. Option C is a type of report but not the most common. Option D is too broad and not specific to any type of report.

What Type of Audit Report Do Most Companies Receive from Their