The objective of financial audit is to:
A)enable the auditor to express an opinion as to whether the financial report is prepared in accordance with all applicable financial reporting frameworks.
B)enable the auditor to express an opinion as to whether the financial report is prepared in accordance with an applicable financial reporting framework.
C)enable the auditor to express an opinion as to whether the financial report is prepared in accordance with an applicable accounting standard.
D)enable the auditor to express an opinion as to whether the financial report is prepared in accordance with all applicable accounting standards.

Question

Quizplus · Accepted Answer

The objective of financial audit is to enable the auditor to express an opinion as to whether the financial report is prepared in accordance with an applicable financial reporting framework. This means that the financial report should be in compliance with the relevant accounting standards and regulations. However, it does not necessarily require compliance with every accounting standard that may be applicable to the entity being audited.

The Objective of Financial Audit Is To