How does the FASB Conceptual Framework link accounting information systems with auditing?
A)Auditors must discuss whether the outputs of the AIS fulfill each of the qualitative characteristics in detail.
B)Auditors prepare a report on some of the outputs of the AIS; those outputs contain the elements of financial statements from the conceptual framework.
C)The purpose of accounting as stated in the conceptual framework is the same as the purpose of an AIS and the purpose of auditing.
D)The conceptual framework does not link AIS with auditing.

Question

Quizplus · Accepted Answer

According to the FASB Conceptual Framework, the elements of financial statements are derived from the qualitative characteristics, which are also used to evaluate the outputs of the AIS. Therefore, auditors prepare a report on some of the outputs of the AIS, such as financial statements, which contain the elements from the conceptual framework.

How Does the FASB Conceptual Framework Link Accounting Information Systems