In a financial statement audit,what is the external auditor's primary concern?
A)Detecting all errors.
B)Determining the effectiveness of operations.
C)Determining whether the internal controls are effective.
D)Determining whether the internal controls promote efficiency.

Question

Quizplus · Accepted Answer

The external auditor's primary concern in a financial statement audit is to determine whether the internal controls are effective, as this will help in assessing the reliability of financial statements. While detecting all errors is important, it is not the primary concern of the external auditor. Determining the effectiveness of operations and whether internal controls promote efficiency are also important, but not as critical as ensuring the effectiveness of internal controls.

In a Financial Statement Audit,what Is the External Auditor's Primary