Which of the following statements is true regarding audit reporting?
A)The auditor should provide an opinion based on the audit evidence obtained.
B)Auditing standards require auditors to provide positive assurance.
C)The auditor's opinion should state whether the financial statements are presented fairly.
D)All of the above statements are true.

Question

Quizplus · Accepted Answer

All the statements are true regarding audit reporting. A) Auditors must base their opinion on the evidence gathered during the audit. B) Auditing standards do indeed require auditors to provide positive assurance, meaning they must affirmatively state their opinion on the financial statements. C) The auditor's opinion is meant to convey whether the financial statements are presented fairly in all material respects in accordance with the applicable financial reporting framework.

Which of the Following Statements Is True Regarding Audit Reporting