The foundation for the audit opinion formulation process relies on obtaining evidence to support the auditor's opinion.

Question

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Obtaining evidence is a fundamental step in the audit process, as it allows the auditor to assess the accuracy and completeness of the financial statements and provide an opinion on them. The evidence can come from a variety of sources, including physical observations, documentation, interviews, and testing of internal controls and transactions. The quality and sufficiency of the evidence obtained will determine the level of assurance that the auditor can provide in the opinion.

The Foundation for the Audit Opinion Formulation Process Relies on Obtaining