The purpose of an audit is to:
A) render an opinion on the fairness of the statements.
B) determine whether or not a company has a good credit risk.
C) determine whether or not a company complies with income tax regulations.
D) determine whether or not a company is a good investment.

Question

Quizplus · Accepted Answer

The purpose of an audit is to review a company's financial statements and render an opinion on their fairness, accuracy, and compliance with accounting standards. It is not intended to assess credit risk, income tax compliance, or the suitability of the company as an investment.

The Purpose of an Audit Is To