In completing an audit of a company's financial statements, auditors

Question

Quizplus · Accepted Answer

Auditors do not guarantee the accuracy of the financial statements nor do they assume responsibility for their accuracy. However, they provide independent assurance to users of the financial statements that, in their opinion, the financial statements are presented fairly and are not materially misstated. They examine a sample of transactions and evaluate the internal controls of the company to determine if they are reliable enough to produce accurate financial statements.

In Completing an Audit of a Company's Financial Statements, Auditors