The purpose of an audit is to
A) determine whether or not a company is a good investment
B) render an opinion on the fairness of the statements
C) determine whether or not a company complies with corporate social responsibility
D) determine whether or not a company is a good credit risk

Question

Quizplus · Accepted Answer

The purpose of an audit is to provide an opinion on the fairness of a company's financial statements. This opinion is provided by an independent auditor who examines the company's financial records and ensures they are accurate and comply with accounting principles. The audit helps to provide assurance to investors and other stakeholders that the financial statements are reliable and can be trusted. The other choices (A, C, and D) are not the primary purpose of an audit.

The Purpose of an Audit Is to