The audit process _______.
A)enhances the degree of confidence that intended users place in the financial statements
B)has no effect on the degree of confidence that intended users place in the financial statements
C)decreases the degree of confidence that intended users place in the financial statements
D)is unrelated to the degree of confidence that intended users place in the financial statements

Question

Quizplus · Accepted Answer

The audit process is conducted to enhance the degree of confidence that intended users place in the financial statements. Through the audit process, an independent auditor provides an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework. This opinion increases the reliability and credibility of the financial statements, leading to a higher degree of confidence among users.

The Audit Process _______