An audit
A) is required for every business
B) is an independent review of an organization's accounting systems and records
C) is performed to add credibility to the financial statements
D) is only performed for companies with computerized accounting system
E) is an independent review of an organization's accounting systems and records and is performed to add credibility to the financial statements.

Question

Quizplus · Accepted Answer

An audit is an independent review of an organization's accounting systems and records, and it is performed to add credibility to the financial statements. It is not required for every business, and it is not only performed for companies with computerized accounting systems.

An Audit