When financial statements are accompanied by the report of an independent auditor, users have the assurance that the statements have been prepared in conformity with accounting and financial reporting standards established by authoritative bodies, and that all material facts have been disclosed.

Question

Quizplus · Accepted Answer

The report of an independent auditor provides assurance to users that the financial statements have been prepared in accordance with established accounting and financial reporting standards, and that all necessary disclosures have been made. This enhances the credibility and reliability of the financial statements.

When Financial Statements Are Accompanied by the Report of an Independent