The purpose of audit services is to provide ________.
A)financial statement users with an opinion as to the fair presentation of the financial reporting
B)management with an opinion as to the fairness of the company's managerial accounting procedures
C)investment advice to the company
D)limited assurance that no material modifications need to be made to the financial statements

Question

Quizplus · Accepted Answer

Audit services are designed to provide financial statement users with an objective and independent opinion as to the fairness and accuracy of the financial statements. This includes making sure that the financial statements are presented in accordance with generally accepted accounting principles (GAAP) and that there are no material misstatements or omissions that would materially impact the financial health of the company. The other choices mentioned, such as providing investment advice or assessing the fairness of managerial accounting procedures, are not the intended purpose of audit services.

The Purpose of Audit Services Is to Provide ________