After the auditor has completed all the procedures,it is necessary to combine the information obtained to reach an overall conclusion as to whether the financial statements are fairly presented.This is a highly subjective process that relies heavily on
A)generally accepted auditing standards.
B)the provincial institutes' Rules of Professional Conduct.
C)generally accepted accounting principles.
D)the auditor's professional judgment.

Question

Quizplus · Accepted Answer

Combining the information obtained from various auditing procedures and reaching an overall conclusion requires the auditor's professional judgment, which is based on their expertise and experience. Generally accepted auditing standards, provincial institutes' Rules of Professional Conduct, and generally accepted accounting principles provide guidance and frameworks for auditors, but ultimately it is up to the auditor's discretion to form an opinion on the fairness of the financial statements. Therefore, the best choice is D.

After the Auditor Has Completed All the Procedures,it Is Necessary