Matt's organization recently hired a certified public accounting firm to verify the organization's end-of-year financial statements.Which of the following primary methods of control is being used in this situation?
A) standing plans
B) budgets
C) audits
D) special reports

Question

Quizplus · Accepted Answer

Audits are a primary method of control used to verify the accuracy and validity of financial statements. The use of a certified public accounting firm to conduct the audit ensures the independence and objectivity of the verification process. Choice A (standing plans) and B (budgets) are not relevant to this situation, and choice D (special reports) does not apply as there is no indication that any special reports are being used for control.

Matt's Organization Recently Hired a Certified Public Accounting Firm to Verify